Nasdaq-listed Solana Company has signed a memorandum of understanding with Kazakhstan's Alatau City, which seeks to become a key crypto hub in Central Asia.
Nasdaq-listed crypto treasury firm Solana Company signed an agreement to support the development of Alatau City, Kazakhstan’s planned digital-first megacity.
The company signed a memorandum of understanding to advise and help build Alatau City’s blockchain and crypto infrastructure during the Alatau City Roadshow in Shenzhen and Hong Kong in June, which reportedly secured 30 cooperation agreements with a combined investment potential of over $6 billion.
“We look forward to deepening this partnership and expanding the Solana ecosystem's footprint across the region,” said Solana Company chair and CEO Joseph Chee.
The deal further pushes Kazakhstan into Solana’s corner. Last year, Kazakhstan launched Central Asia’s first Solana Economic Zone in the country’s capital of Astana with the Solana Foundation.
The Kazakhstan Stock Exchange (KASE) launched its first Solana ETF last week, giving investors regulated exposure to Solana (SOL) through one of the biggest stock exchanges in Central Asia.
The Solana Foundation also signed a memorandum of understanding with Alatau City to develop its blockchain capabilities during the China roadshow.
The collaboration between Solana Company and Alatau City will cover four areas: digital asset treasury, blockchain infrastructure, accelerating the institutional adoption of blockchain and platform development.
Alisher Abdykadyrov, CEO of the Alatau City Authority, said the MOU will also see Solana Company participate in the development of the Alatau Crypto Cluster, a dedicated pilot zone and special economic area in the upcoming city where crypto will be permitted for everyday transactions.
The Alatau City megaproject was first unveiled to an international audience by Kazakh President Kassym-Jomart Tokayev in May 2024. The city is still primarily in early development and planning stages.
The village of Zhetygen, pictured in March 2023, before it was designated a city and renamed to Alatau. Source: Wikimedia Commons
Planners envision it as a fully integrated smart city with low-altitude aircraft, robotaxis and autonomous drones handling urban transportation and deliveries, with hydrogen energy powering its economy.
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