- DeFi Corp and Kraken partner to tokenize stocks.
- Enhances access to equity via Solana.
- No regulatory issues reported so far.
DeFi Development Corp. has partnered with Kraken to tokenize its stock on Solana, a significant step in crypto finance.
The collaboration brings U.S.-listed equity onchain, offering enhanced access and integration to decentralized finance applications.
DeFi Development Corp., led by CEO Joseph Onorati, has teamed up with Kraken to launch its tokenized stock, DFDVx, on the Solana blockchain. Kraken’s xStocks platform, managed by Val Gui, facilitates the onchain access for investors. Joseph Onorati, CEO of DeFi Development Corp., shared his vision:
“We view the tokenization of our stock as a DeFi lego block, one that developers and institutions can build on top of. By putting DFDVx onchain, we will unlock the next phase of innovation; we’re ready to explore new use cases that merge equity ownership with onchain finance.”
This initiative gives investors enhanced access to U.S. equities onchain, utilizing Solana’s infrastructure for storage and scalability. DFDV will link its treasury, heavily reliant on 600,000 SOL, with the blockchain ecosystem.
The market welcomed this move with increased interest and liquidity in DFDV stock. With over 500% stock surge since April, this enhances liquidity opportunities via tokenization on Solana’s platform.
Historically, attempts such as tokenized stocks of Tesla or Apple faced challenges. However, this initiative marks progress by listing on Kraken, a major crypto exchange, with no regulatory concerns reported so far.
The partnership signals growing adoption of blockchain in traditional finance, potentially setting precedents for future tokenizations. DFDV aims to integrate its treasury and equity strategies with DeFi by leveraging Solana, promising innovation and new applications for its assets.
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