Solana tokenized notes debut under Mirae Asset's program

Solana tokenized notes debut under Mirae Asset’s $3 billion program

Mirae Asset Securities’ Hong Kong arm issued six-month tokenized notes on Solana under its $3 billion note program, it said at 04:26 UTC on Oct. 28.

The quick take

Price: $SOL at $101.55, +0.6% in 24 hours, as of 8:50 a.m. ET, Oct. 28.
Trigger: Mirae Asset Securities (HK) issued six-month floating-rate notes in tokenized form on Solana.
Watch: Whether the firm extends the model to more structured products, as it says it can.

What happened

Solana ($SOL) has a new issuer from traditional finance. Mirae Asset Securities (HK), the Hong Kong arm of one of South Korea’s largest securities firms, said on Oct. 28 that it issued Solana tokenized notes to eligible institutional investors.

The notes pay a floating rate in U.S. dollars and run for six months. They come from the firm’s $3 billion structured note program in Hong Kong, according to its release on PR Newswire.

Mirae Asset Securities runs the token issuance, payments and lifecycle of the notes on its own systems. Marketnode, a Singapore-regulated digital market operator, acted as the authorized distributor.

Lu Yin, Head of APAC at the Solana Foundation, said: “Public blockchain infrastructure becomes meaningful to capital markets when it can support the products and workflows institutions already use.”

Who’s buying and selling

Only eligible professional investors under Hong Kong’s Securities and Futures Ordinance could buy. The notes went out by private placement, so retail investors had no access.

The release does not give the size of the issue, the number of buyers or a token address. Those details remain unknown.

The group is already active in digital assets. An affiliate took a controlling stake in the Korean exchange Korbit in July, and Korbit now trades as Digital X, Cointelegraph reported.

What to watch next

Mirae says the deal gives it a model to use for a broader range of structured products over time. A second issue, and its size, would show how far that goes.

The wider network stayed steady. $SOL traded at $101.55 on Binance’s SOL/USDT pair at 12:50 UTC, and Solana DeFi held $5.8 billion in deposits, per DefiLlama.

Bottom line: A major Korean broker now runs part of its note program on Solana, but the deal’s size is still undisclosed.