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DeFi Development Corp. (NASDAQ:DFDV) (the "Company") the first public company with a treasury strategy built to accumulate and compound Solana ("SOL"), today announced an LOI for the establishment of DeFi Development Corp. Korea ("DFDV Korea"), a Solana Digital Asset Treasury ("DAT"), through the Company's Treasury Accelerator program.
DFDV Korea will be created through the acquisition of a publicly listed company in Korea. A management team from Fragmetric will lead the new entity, bringing deep experience in Korea's digital asset markets and institutional channels. As part of the partnership, DeFi Development Corp. established a partnership fee arrangement tied to services such as asset management, accounting/finance support, and technology services, and will receive an equity stake in DFDV Korea.
"Korea has one of the most vibrant trading communities in the world, yet institutional access to Solana remains extremely limited," said Joseph Onorati, Chief Executive Officer of DeFi Development Corp. "That scarcity value makes a Solana DAT in Korea especially compelling. By partnering with Fragmetric, we can combine our treasury expertise with a local team that knows how to execute and scale within this unique market."
The creation of DFDV Korea expands the Company's Treasury Accelerator program, which will help catalyze DATs across the globe. Through this initiative, DeFi Development Corp. is helping investors worldwide gain structured exposure to crypto, with Solana DATs in particular creating new sources of demand for SOL that benefit the broader ecosystem.
Posted In: DFDV
