DeFi Development Corp., a public company accumulating Solana as a treasury asset, has announced a major partnership with Solflare as its official wallet provider.
Summary
- Solflare has become the official wallet provider for DeFi Development Corp.
- DeFi Dev will also adopt the crypto-backed Solflare Card for its employees.
DeFi Dev, which has aggressively accumulated Solana (SOL) since announcing its crypto strategy focused on the altcoin, is taking this vision further through a new collaboration with one of the top SOL wallets.
The company has signed a letter of intent with Solrise Group, the team behind the Solflare wallet, for strategic collaboration. DeFi Dev and Solflare aim to drive adoption of onchain financial products, including staking and equity offerings.
Support for Solflare crypto card
Solflare serves more than 4 million active users, and DeFi Dev plans to tap into this user base to promote adoption of its products.
According to details in the announcement, the initiative will focus on educational content and other awareness programs to bring DFDV to more users. DeFi Development will also support Solflare by adopting the wallet provider’s crypto-backed debit card as a company-issued payment card for its employees.
“This partnership marks a pivotal step toward deepening our involvement in the rapidly evolving Solana ecosystem,” stated Parker White, chief operating officer and chief investment officer of DeFi Dev Corp. “Working closely with Solflare will allow us to accelerate user onboarding, increase the visibility of our equity product, and leverage innovative co-marketing opportunities into current and future initiatives.”
Nasdaq-listed DeFi Development Corp. has increased its SOL holdings to near 1 million tokens following its latest buy last month. On July 21, DeFi Dev disclosed it had added $19 million worth of Solana tokens betweenJuly 14 and 20. The purchases increased the company’s total holdings to 999,999 SOL.
As well as the quest to use the treasury reserve to provide investors with value from the exposure to SOL, DeFi Dev is an active participant in Solana’s ecosystem. This includes the staking of SOL to support network security and earn staking rewards.
