Crypto-trading company GSR led a private location of $ 100 million to Upexi (UPXI), a consumer-good company about a digital asset-based treasury strategy.

The company, whose products include medical mushroom rubber and pet-care tools, said it will use the capital to accumulate and stab Solana (sun) tokens. The Tampa, Florida-based company, had a market capital of $ 3 million on Friday.

The investment, structured as a private investment in public equity (pipe), comes as Upexi switches from physical product making to control part of its balance using Solana, a high-speed blockchain known for low fees and fast settlement, according to a press release.

The investment announcement sent Upexis stock increasing more than 700%from about $ 2.30 to $ 19 at the time of writing.

GSR’s commitment points to a growing overlap between public markets and blockchain financing.

“This investment highlights the growing demand for effective, secure access to high -quality crypto assets in public markets,” Brian Rudick, GSR’s research manager, said in a statement.

The Solana Foundation -President Lily Liu said the agreement marked another step in connecting traditional financial companies with decentralized infrastructure.

The move, “emphasizes GSR’s confidence in Solana as a leading high performance Blockchain,” the financial company said in a release.