Australia’s Pioneer Solana Treasury: Fitell’s $10 Million DeFi-Powered Business Transformation

Fitell Corporation (NASDAQ: FTEL) has completed a $10 million acquisition of 46,144

(SOL) tokens, representing the initial step in its $100 million digital asset treasury plan. The funding, arranged with a U.S.-based institutional backer, dedicates at least 70% of the capital to cryptocurrency purchases, while the rest will be used for general business needs. This initiative establishes as the first Australian firm to introduce a Solana-focused treasury, with the goal of earning returns through on-chain DeFi activities such as providing liquidity, trading derivatives, and utilizing structured products.

The company has brought on David Swaney and Cailen Sullivan as treasury consultants, both bringing significant expertise in the crypto sector. Swaney, who has a background in institutional on-chain finance, pointed out the potential for generating yield beyond traditional staking. Sullivan, a co-founder of Adrena perpetuals DEX on Solana, noted that the strategy centers on deeper integration with the Solana ecosystem. Fitell’s strategy involves compounding gains by reinvesting profits into its treasury, boosting the SOL-per-share ratio, and strengthening ties with the Solana community.

Fitell is also in the process of rebranding to “Solana Australia Corporation,” and is preparing for a dual listing on the Australian Securities Exchange (ASX) to broaden access for regional investors to SOL. The initial

holdings will be secured by BitGo Trust Company, with staking and DeFi operations managed via institutional-grade systems. The company’s share consolidation, set for September 23, 2025, is intended to satisfy Nasdaq’s minimum share price standards.

Industry observers point out that Fitell’s approach reflects a larger movement of institutional involvement on Solana. The network’s fast transaction speeds and low costs have drawn companies like DeFi Development Corp and Upexi Inc., both of which maintain large SOL holdings. Solana’s attractiveness to institutions is further enhanced by upcoming upgrades, such as Firedancer and a new consensus protocol, which are expected to improve scalability and transaction finality.

Following the announcement, Fitell’s share price jumped from $7.40 to $15.79 within a few hours, signaling strong investor confidence. Nevertheless, the acquisition brings potential volatility, as the 5.9 million SOL held by corporate treasuries across the network could impact price dynamics. Ongoing regulatory developments regarding crypto ETFs and stablecoin rules remain crucial for continued institutional participation.

The company’s dual emphasis on yield generation and ecosystem engagement highlights a transformation in how corporate treasuries are managed. By deploying assets directly on-chain, Fitell joins a growing number of companies utilizing Solana’s infrastructure for active capital management. As the market anticipates SEC rulings on crypto ETFs and regulatory clarity, Fitell’s strategy underscores the changing role of digital assets in corporate finance.