Fitell Corporation has announced a bold move into digital assets with the launch of its Solana (SOL) treasury, supported by a $100 million financing facility. This initiative marks the first Solana-based corporate treasury in Australia and positions Fitell as a major player in the region’s digital finance landscape. The company aims to leverage decentralized finance (DeFi) applications to generate attractive returns while strengthening alignment with the Solana ecosystem.
Innovative Treasury Strategy
Fitell’s treasury plan focuses on deploying SOL across a diversified suite of on-chain strategies. These include structured products, options, snowballs, liquidity provisioning, and other highly liquid, risk-managed approaches.
Each strategy varies in return potential, duration, and alpha generation. The company intends to reinvest returns into the treasury, compounding SOL holdings and increasing SOL-per-share for shareholders.
Moreover, the treasury’s design highlights disciplined risk management alongside aggressive yield objectives. “The ability to generate yield on assets beyond staking will be the defining differentiator,” explained David Swaney, Fitell’s digital asset advisor. His expertise in institutional adoption and structured yield strategies guides the company’s roadmap for sustainable growth.
Strategic Partnerships and Advisory
Fitell has engaged two seasoned advisors to shape its digital asset approach. David Swaney brings extensive experience in treasury design and market infrastructure, while Cailen Sullivan offers over a decade of expertise in Solana-focused projects.
Sullivan, an early Coinbase hire and co-founder of Solana-based DEX Adrena, emphasizes deploying assets on-chain to maximize value and support DeFi growth. “Our goal is to demonstrate that strategy and alignment can rival scale,” he noted.
To ensure secure management, initial SOL holdings will be custodied with BitGo Trust Company in the U.S., and staked using institutional-grade infrastructure. The company’s advisors aim to create a model that can inspire future Solana-aligned treasuries globally.
Expanding Market Presence
Fitell is preparing for a dual listing on the Australian Securities Exchange (ASX) to broaden investor access. Following the treasury launch, the company plans to rebrand as “Solana Australia Corporation,” signaling a strategic pivot toward digital asset leadership in the Asia-Pacific region. CEO Sam Lu highlighted the ambition, stating that Fitell seeks to become the region’s largest publicly listed Solana holder.
Initial SOL acquisitions will use $10 million from the convertible note facility, reflecting a disciplined, phased capital deployment. Despite the announcement, Fitell shares fell sharply, trading at $6.98 on Nasdaq, down 17.49%.
