DeFi Dev Corp Tokenizes Stocks via Kraken-xStocks on Solana Platform, Connecting Stock Market and Blockchain.
Institutional interest in Solana is growing, driving RWA adoption and facilitating positive market trends.
DeFi Development Corp., formerly Janover, is boosting its presence on the Solana [SOL] ecosystem by tokenizing its listed shares.
Through a partnership with Kraken, the company will bring stocks to the blockchain under the trading symbol DFDVx, making an important step to connect traditional markets and DeFi (DeFi).
These tokenized assets can be exchanged directly on a peer-to-peer basis, providing 24/7 liquidity via decentralized platforms.
DeFi Development Corp.'s blockchain strategy
According to a recent announcement, DeFi Development Corp. will use Backed’s xStocks platform to bring stocks onto the Solana chain.
Kraken previously partnered with xStocks in May to launch tokenized versions of major U.S. stocks like Apple, Tesla, and Nvidia, serving international customers.
Operating on the Solana blockchain, xStocks provides the essential infrastructure for real-time stock trading, ensuring high performance and low latency.
The launch of DFDVx – a tokenized version of DeFi Development Corp. shares, marks a turning point in connecting the conventional stock market with the Solana ecosystem.
What next?
The company previously spent $11.5 million to purchase SOL, demonstrating its strategic commitment to investing in the ecosystem. Joseph Onorati, CEO of DeFi Development Corp., emphasized:
“We see tokenization as a Lego block in the DeFi world, so that developers and institutions can build on it.”
This information coincides with the US Securities and Exchange Commission (SEC) recently rejecting the company's plan to register capital worth 1 billion USD.
Still, DFDV shares rose 4.84% in premarket trading to $24.81 before paring gains toward the close.
As of the close of the session, the stock price fell slightly by 0.28%, according to data from Google Finance.
RWA's Role in Elevating Solana
This reflects clear growth momentum in the adoption of Real-World Assets (RWA), cementing Solana’s position as a superior choice for institutional finance.
Once known as an exchange for Memecoin, Solana is now attracting strong attention from major institutions like Kraken, Securitize, Ondo Finance, and Robinhood leveraging its blockchain technology.
This shift was further confirmed when Solana was selected to join the Wyoming-backed stablecoin project, along with the emergence of in-house treasury firms such as DeFi Dev Corp and Sol Strategies.
These elements lay the foundation for future RWA projects on Solana.
The positive sentiment also spilled over into SOL’s market performance as the token gained 7.37% over the past 24 hours, trading at $144.42, according to data from CoinMarketCap.
Even SkyBridge Capital’s Anthony Scaramucci recently expressed optimism about Solana’s ability to surpass Ethereum [ETH] in market value, marking a turning point in his belief in Solana’s future leadership position.
Source: https://tintucbitcoin.com/defi-dev-corp-rot-115-trieu-usd-vao-solana/
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