Japan's Mobcast Holdings to add Solana to treasury, seeks to raise $9.5M

Mobcast Holdings, a company listed on the Tokyo Stock Exchange, announced on Oct. 3 that it is launching a new business initiative to hold Solana (SOL) as a reserve asset. The company plans to raise approximately 1.4 billion yen ($9.5 million) for the venture. The strategy mirrors that of Metaplanet, which focuses on Bitcoin reserves, making Mobcast the second publicly traded company in Japan to adopt a cryptocurrency treasury strategy. Mobcast stated that the move is intended to help it meet the exchange's listing maintenance criteria.