Nasdaq-listed Solana Company just signed on to help build Alatau City, Kazakhstan’s ambitious plan for a blockchain-powered smart city. The company inked a memorandum of understanding during a roadshow in Shenzhen and Hong Kong that reportedly pulled in 30 cooperation agreements worth over $6 billion combined.
What’s the actual scope? Solana Company will advise on digital asset treasury, blockchain infrastructure, and institutional adoption. It’ll also help develop the Alatau Crypto Cluster — a special economic zone where crypto would be accepted for everyday transactions.
But here’s the reality check. Alatau City is still mostly a concept. Current residents reportedly lack basic utilities like gas, water, electricity, and internet. Kazakhstan’s own National Bank has raised concerns about the constitutional changes needed to support a crypto-based economy.
This isn’t Solana’s first move in the country. Last year, Kazakhstan launched Central Asia’s first Solana Economic Zone in Astana. The Kazakhstan Stock Exchange also debuted its first Solana ETF just last week.
CEO Joseph Chee said the company looks forward to “deepening this partnership and expanding the Solana ecosystem’s footprint across the region.” Whether Alatau City ever moves beyond the planning stage is another question entirely.
