Tap Global Group (LSE:TAP) has made its first purchase of Solana for its Digital Asset Income Strategy (DAIS), a yield-earning reserve of digital assets deployed through the company's Tap Earn programme.
The AIM-listed, regulated crypto-fintech bought 500 SOL at an average price of £91.66 each, roughly $121, for a total of £45,832.
The purchase came about 59% below Solana's all-time high of roughly $293.
DAIS reserve holdings now stand at 3 BTC and 500 SOL, at a combined cost of £235,227, held and reported separately from the group's operational digital assets.
The Bitcoin purchase, 3 BTC at an average price of £63,132 for roughly £189,395, was announced earlier this week following the DAIS activation on 25 August.
Tap Global said Solana's proof-of-stake design lets holders earn staking rewards, making it a fit for a reserve designed to generate yield rather than sit as a passive holding.
Tap Earn, the proprietary programme through which the reserve is deployed, has grown to more than $8.0 million in customer assets since its May launch and has delivered annualised yields of up to 8.0% on supported stablecoins, 3.5% on Ethereum, 2.5% on Bitcoin and up to 7% on Solana.
"After Bitcoin, Solana is the next asset in our Digital Asset Income Strategy," said chief executive Arsen Torosian, adding the company is "buying well below the peak, at less than half its all-time high, through our own trading desk, on our own platform."
The DAIS reserve is funded from Tap's existing cryptoassets, valued at £1.75 million as of 30 June, plus surplus cash and occasional equity issuances, with any material expansion requiring shareholder approval.