NewGen, a Nasdaq-listed, multi-jurisdictional technology-focused company, has entered into a purchase agreement with White Lion Capital to acquire 600,000 Solana tokens, marking a significant development in the company’s digital asset strategy.
NewGenIVF Group Limited announced the development on October 31, 2025, noting that the company had signed a binding agreement with White Lion. The companies’ digital asset purchase agreement includes a commitment that will allow NewGen to acquire 600,000 Solana (SOL) tokens, then valued at approximately $110 million.
NewGen’s Strategic Move into Digital Assets
The term sheet gives NewGen the option to sell shares of its common stock to White Lion in exchange for SOL, with this option initially open for a period of 24 months. This means that when White Lion offers company shares, it hands over tokens of the same value and not cash. According to Siu Wing Fung Alfred, Founder and CEO of NewGen, “This groundbreaking agreement with White Lion represents another important development in NewGen’s evolution as a forward-thinking, diversified company.”
Alfred added that by structuring this innovative agreement to receive Solana tokens in lieu of traditional cash compensation, NewGen is not only strengthening its digital asset treasury but also demonstrating its unwavering confidence in the future of blockchain technology and decentralized finance. SOL will be an important part of the company, with NewGen looking to capitalize on growth opportunities around digital assets.
NewGen’s Digital Asset Treasury Strategy
NewGen joined the digital asset strategy arms race in December 2024, making its first $1 million jump with a crypto portfolio. In June 2025, the company unveiled its treasury strategy and revealed plans to invest $30 million in Solana. The company is using this agreement to strengthen its Solana treasury strategy, which currently stands at 13,000 SOL, valued at approximately $2.5 million.
According to data from CoinGecko, ten of the largest Solana treasury companies currently hold a total of 15,741,661 SOL worth over $2.9 billion. The largest public SOL holders are Forward Industries, Solana Company, DeFi Development Corp. and Upexi. NewGen’s acquisition of 600,000 SOL tokens will significantly boost its digital asset holdings and position it as a major player in the Solana ecosystem.
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