Overview
DeFi Development Corp. (DFDV), a firm listed on Nasdaq with a focus on cryptocurrency treasury strategies using Solana, is set to bring its equity to blockchain through a collaboration with Kraken. The tokenization initiative will introduce shares under the ticker DFDVx on the Solana platform, joining a select group of major stocks like Apple and Tesla that are already on the xStocks platform developed by Backed and Kraken.
Key Details
- Tokenization Type: DFDV will tokenize its shares under the ticker DFDVx on the Solana network using Kraken’s upcoming xStocks platform.
- Market Potential: The interest in tokenizing real-world assets (RWAs) is increasing, with the market projected to reach approximately $18.9 trillion by 2033.
Advantages of Tokenization
Tokenizing shares enables trading around the clock, faster settlements, and development of new uses within decentralized finance (DeFi) applications.
“We view the tokenization of our stock as a DeFi lego block, one that developers and institutions can build on top of,” said Joseph Onorati, CEO of DeFi Dev.
“As part of the xStocks alliance, we have seen incredible demand for access to US equities; the crypto community is excited for on-chain access to crypto treasury strategy companies like DFDV,” added Val Gui, General Manager of xStocks for Kraken.
For further reading, explore Crypto for Advisors: Trends in Tokenizing Real-World Assets.
