Janover, a real estate-focused fintech firm, has officially changed its name to DeFi Development Corporation and announced the acquisition of $11.5 million worth of Solana (SOL) as part of its growing cryptocurrency treasury strategy.
According to a press release shared today, the company purchased 88,164 SOL tokens, bringing its total holdings to 251,842 SOL, currently valued at approximately $34.4 million including staking rewards. The purchase was funded using proceeds from a $42 million funding round completed earlier this year.
With this latest transaction, each share of DeFi Development Corp now represents 0.17 SOL, a 62% increase from the last crypto purchase. SOL tokens will be staked immediately, allowing the company to earn local yields while contributing to the security of the Solana network.
The company’s board of directors approved a new treasury policy on April 4, allowing long-term crypto asset accumulation, starting with Solana. As part of this strategy, DeFi Development Corp also plans to operate one or more Solana validators, which will allow it to stake assets, support network security, and reinvest staking rewards.
*This is not investment advice.
