VisionSys, a Nasdaq-listed company, announced on Wednesday that it wants to launch a Solana Treasuries Company worth $2 billion in SOL. Let’s take a look at this ambitious project.
VisionSys wants to buy $2 billion in SOL
On Wednesday, VisionSys AI Inc. unveiled a partnership with the Solana Marinade Finance staking protocol to create a Solana Treasury Company.
Initially specializing in artificial intelligence technologies related to brain-machine interaction, VisionSys intends to set up a $2 billion reserve.
First, the company announced that it plans to acquire $500 million worth of SOL over the next six months.
Heng Wang, CEO of VisionSys, commented on the initiative:
This partnership represents a unique opportunity to integrate digital assets into our corporate DNA. It positions VisionSys as a pioneer in blockchain and AI-based cash management. By leveraging Marinade’s unparalleled expertise, we are not only strengthening our cash position; we are laying the foundation for the future.
For the time being, VisionSys has not specified how it will raise the funds necessary for such investments, and it should be noted that the company is only capitalized at $130 million on the stock market.
In fact, its VSA stock is exhibiting particularly curious behavior on the markets. For example, with a 7.27% decline at Wednesday’s close, the stock lost more than 60% during the trading session:
Furthermore, although VisionSys’s stock has risen more than 350% since the beginning of the year, the company exhibits one of the usual characteristics that we can criticize about crypto cash registers, namely a stock market price that has fallen more than 99% since its last all-time high (ATH).
As for Marinade, the protocol currently claims a total value locked of $2.35 billion, and the price of its MNDE token is up 11.5% over 24 hours to $0.14.
SOL, meanwhile, is trading at $223.48 at the time of writing, up 6.3% over the last 24 hours.
