Everything Blockchain Inc. (EBZT), a U.S.-based publicly traded company, plans to acquire Solana and other top altcoins for $10 million. According to a blog post , these networks are Solana (SOL), XRP, Sui (SUI), Bittensor (TAO), and Hyperliquid (HYPE). This strategy positions the company at the leading edge of institutional cryptocurrency adoption, as major financial institutions are expected to invest in this area. Everything Blockchain Inc. Stakes in Multiple Token Holdings The investment will focus on building a diverse treasury by using multiple tokens for staking. This will make EBZT the first publicly traded company to use this strategy. Meanwhile, the company aims to connect with blockchain networks, gaining interest from institutions due to their ability to scale, innovate, and have real-world uses. EBZT’s ecosystem investment will help the company earn rewards through staking and help shape its future. This smart strategy enables the company to benefit from increased token value and possible network incentives while supporting projects with good potential. Furthermore, this decision reflects a trend among tech companies using blockchain technology. As regulations become clearer and more institutions show interest in cryptocurrency, EBZT’s approach could inspire other public companies to explore similar opportunities in blockchain. Janover Acquires $4.6 Million Solana Similarly, software firm Janover purchased $4.6 million worth of Solana . This purchase marked its first move under its newly introduced digital asset treasury strategy, which involves staking. As part of its new strategy, Janover plans to commence staking its SOL holdings, which will generate more revenue for the tech firm. According to Joseph Onorati, Janover’s CEO, the recent SOL purchase aligns with the company’s objective to become the most efficient and transparent platform for cryptocurrency accumulation in the public markets. Apart from staking the popular coin, Janover wants to operate a few Solana validators to improve participation. More importantly, the company is excited about the prospect. This prospect will certainly not impact Janover’s efficient capital deployment strategy. Growing Competition in the Tokenized U.S. Treasuries Market Interestingly, global banks and asset managers have begun to make a shift as they put traditional financial instruments, such as credit, government bonds, and funds, on blockchains. This development, tokenizing real-world assets (RWAs), aligns with their quest for operational efficiency and 24/7 settlements. With $5.8 trillion in assets under management (AUM), Fidelity Investments has become the latest financial giant seeking a slice of the fast-growing tokenized “pie” in the U.S. Treasuries sector. Likewise, in partnership with digital asset firm Securitize, BlackRock launched a tokenized T-bill fund termed BUIDL in March 2024 . The post Everything Blockchain Set to Deploy $10M Into Solana and XRP appeared first on TheCoinrise.com .
