DeFi Development Corp. (Nasdaq: DFDV) has announced the launch of DFDVx, a tokenized representation of its Nasdaq-listed stock, facilitating onchain equity trading and deepening the integration between traditional markets and decentralized finance through strategic partnerships.
The tokenized stock DFDVx will be available for trading on the xStocks platform. This initiative leverages collaborations with cryptocurrency exchange Kraken and tokenization specialist Backed Finance to harness blockchain technology for market accessibility. Notably, the tokenization enables trading outside traditional market hours, operating 24/7.
Underpinning the offering’s regulatory adherence, Backed Finance provides the compliant tokenization infrastructure. Deployment on the Solana blockchain highlights a growing sector trend towards regulated tokenization of real-world assets (RWAs).
Demonstrating its vested interest in the Solana ecosystem, DeFi Development Corp. disclosed holdings exceeding 600,000 SOL tokens. Further integration involves its liquid staking derivative, dfdvSOL, which is actively incorporated within Kamino Finance’s DeFi protocols to generate yield opportunities.
The company reports its stock price experienced a significant surge of over 500%. Forward-looking strategies include exploring a potential dual listing for DFDVx on Nasdaq itself and establishing a substantial $5 billion equity financing line, signaling ambitions for treasury growth and further market engagements.