Solana adoption in Asia is about to reach a new milestone. DeFi Development Corp (DFDV), a Nasdaq-listed company with one of the largest Solana reserves, is joining forces with Fragmetric Labs to establish the first corporate Solana treasury in South Korea.
The move will be executed through the purchase of a local publicly listed company, according to sources familiar with the deal.
The unveiling took place during Korea Blockchain Week at the Solana Oriental event, where Fragmetric co-founder Sang Kim had hinted days earlier that a “game-changing” announcement was on the horizon. For DFDV, the project represents more than just a local partnership—it ties into a broader initiative aimed at embedding Solana into corporate balance sheets worldwide.
That global push has been formalized through the company’s “Treasury Accelerator,” a program designed to channel DFDV’s balance sheet into building new digital asset treasuries (DATs). One of its first steps was a $22.88 million injection into Flora Growth, a Nasdaq-listed cannabis company that will now transition into “ZeroStack” with the mission of accumulating Solana.
DFDV’s own exposure to SOL is already substantial. The firm controls over 2 million tokens, worth nearly $500 million, and has continued to add to its holdings. Just last week, an additional 62,745 SOL were purchased, reinforcing its strategy of consistent accumulation. Despite market turbulence, DFDV shares closed at $16.93 on Friday, recording a 4.62% daily rise even as weekly gains tapered off.
For South Korea, the arrival of a Solana treasury could mark the start of a new wave of corporate crypto adoption, positioning SOL not just as a DeFi backbone but as a treasury-grade digital asset. If successful, the move could serve as a blueprint for similar ventures across Asia and beyond.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/solana-pushes-into-south-korea-with-bold-new-corporate-treasury-plan/