Solana Company, whose shares trade on Nasdaq, has signed a memorandum of cooperation with the administration of Alatau City. The company will help build the blockchain infrastructure for one of Central Asia’s largest urban development projects, valued at around $6B.
The memorandum was signed in June during the Alatau City roadshow in Shenzhen and Hong Kong. The agreement outlines cooperation in four key areas: infrastructure development, digital asset management, accelerating institutional adoption of blockchain, and the creation of digital platforms.
Alatau City Will Feature a Dedicated Crypto Cluster
Alatau City is set to become a fully integrated digital hub with a dedicated crypto cluster. In this pilot zone, digital assets can be used for everyday transactions.
Joseph Chyi, Chairman and CEO of Solana Company, said the partnership will expand the ecosystem’s presence across the region. On behalf of Alatau City, the memorandum was supported by Alisher Abdykadyrov, Head of the City Administration.
The press release also notes that Kazakhstan has been steadily strengthening its ties with Solana. Earlier, the country launched Central Asia’s first economic zone based on the Solana network in Astana, and a Solana ETF was listed on the local stock exchange.