$100 million fund set to boost Solana projects in Asia

Astra Fintech has announced the launch of a $100 million fund aimed at supporting the growth of the Solana (CRYPTO:SOL) blockchain ecosystem across Asia.

The fund, which will be based in South Korea, is designed to accelerate the development of projects and partnerships focused on payment finance, or PayFi, solutions that utilise blockchain technology for payments.

According to Astra Fintech, the initiative will target developers, startups, and companies working to integrate digital currencies with traditional financial systems.

“The fund will focus on identifying and supporting high-potential builders, startups, and innovative projects within Solana’s rapidly expanding network,” the company stated.

Astra’s strategy builds on its previous involvement in the Solana ecosystem, including backing projects such as Mulex, DEPE, and MoNE through events like Seoulana, which is recognised for connecting high-impact blockchain initiatives.

Mulex is described as a cross-chain infrastructure solution that improves Solana’s scalability, DEPE manages liquidity routing on Solana chains, and MoNE enables the creation and deployment of on-chain agents.

Astra is also advancing its PayFi approach by integrating Banana Pay, a blockchain-based payment system, to bridge traditional finance with decentralised payment infrastructure.

The fund’s launch comes as Solana maintains a strong position among blockchain networks for developer activity, ranking just behind Ethereum (CRYPTO:ETH), according to Electric Capital data.

South Korea’s selection as the fund’s hub follows Solana’s previous investments in the country after the collapse of the Terra ecosystem in 2022.

Astra’s move is part of a broader trend of increased institutional interest in Solana, with recent developments including the acquisition of Janover by former Kraken executives and the approval of Solana staking in Canada.

The $100 million commitment is expected to further drive innovation and adoption of blockchain payment solutions in the region, as Astra Fintech positions itself at the intersection of digital and traditional finance.

At the time of reporting, the Solana (SOL) price was $138.91.