DeFi Development Corp and Fragmetric Labs Launch South Korea’s First Solana Treasury
- DeFi Development Corp (DFDV) and Fragmetric Labs will establish South Korea’s first corporate Solana treasury.
- The announcement was made during the Solana Oriental event at Korea Blockchain Week on September 22.
- DFDV currently holds over $500 million in SOL, including a recent addition of over $62,000 SOL.
- The company invested $22.88 million in Flora Growth as part of its Treasury Accelerator initiative.
- Despite the news, SOL price fell over 7% to $220 amid broader market trends.
This collaboration marks a significant development for DeFi on the Solana network, aiming to enhance global digital asset treasuries (DATs). The establishment of this treasury could catalyze further growth in the region.
As DFDV continues to expand its holdings, it currently possesses over two million SOL, highlighting its substantial investment in the Solana ecosystem. (Source)
