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Figure Heloc Fitell Corporation Launches Solana (SOL) Digital Asset Treasury with $100M Financing Facility, Focusing on Yield and On-Chain DeFi Innovation
Ryan Moore 
Fitell Corporation (NASDAQ: FTEL), best known for its fitness equipment business, is taking a big leap into the world of Web3. The company just announced it’s launching a Solana-based digital asset treasury, backed by a $100 million financing facility the first of its kind in Australia. The goal? To turn Solana into a core treasury asset and use DeFi strategies to generate yield on-chain.
Turning Solana Into a Productive Treasury Asset
Fitell’s new treasury will actively deploy SOL across a range of DeFi and derivatives strategies designed to earn yield while managing risk. That includes things like options, snowball products, and liquidity provision all structured to generate returns without straying too far from safety. Profits will be reinvested into the treasury itself, growing Fitell’s SOL holdings over time and deepening its connection to the Solana ecosystem.
As part of this move, Fitell is also planning a dual listing on the Australian Securities Exchange (ASX) to give local investors easier access to its Solana-focused strategy. And in a clear nod to its new direction, the company says it will rebrand to Solana Australia Corporation after the treasury officially launches.
Bringing in DeFi Heavyweights
To guide this transformation, Fitell has tapped David Swaney and Cailen Sullivan as strategic advisors. Both bring serious DeFi credentials. Swaney has been active in crypto since 2017, helping institutions design on-chain yield strategies, while Sullivan an early Coinbase employee and co-founder of Adrena, one of Solana’s top perpetual DEXs has been deeply involved in building out the Solana ecosystem.
“We believe digital asset treasuries are laying the groundwork for the next evolution of crypto finance,” said David Swaney. “Generating yield beyond simple staking is the real differentiator and we want to be at the front of that shift.”
Sullivan added, “Our strategy looks beyond just holding SOL. We want to deploy assets on-chain to support the entire Solana ecosystem from liquidity to DeFi apps while delivering strong returns to shareholders.”
Security Meets Performance
Fitell’s initial SOL holdings will be custodied with BitGo Trust Company in the U.S., a major name in institutional crypto custody. From there, assets will be staked and deployed through professional-grade infrastructure. Everything about the treasury from yield generation to liquidity management is designed to stay fully on-chain and transparent, aligning with Solana’s high-performance ethos.
A Bold Step for Fitell and for Solana in Australia
“This move puts Fitell at the forefront of blockchain adoption in Australia and the wider Asia-Pacific region,” said Sam Lu, CEO of Fitell Corporation. “We’re not just investing in Solana we’re investing in the future of decentralized finance. With David and Cailen’s guidance, we’re confident in building something that combines innovation, smart risk management, and long-term value creation.”
To kick things off, Fitell will immediately deploy $10 million from its financing facility into SOL purchases, with Rodman & Renshaw serving as the exclusive placement agent for the deal. The company plans to discuss the initiative live today at 4:00 p.m. ET on @MarioNawfal and @RoundtableSpace on X.
For a company that started in fitness and wellness, Fitell’s pivot into on-chain finance might seem unexpected but it’s a sign of how quickly traditional firms are waking up to the potential of blockchain. If successful, this could mark a turning point for how public companies use crypto not just as an investment, but as an active, yield-generating part of their balance sheet.
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