Nasdaq-listed corporate Solana treasury company DeFi Development Corp. announced the launch of its SOL treasury accelerator.
According to a Thursday announcement shared with Cointelegraph, DeFi Development launched the DFDV Treasury Accelerator, the firmās international expansion initiative, which utilizes a franchise model to support regional Solana treasuries worldwide.
The DFDV Treasury Accelerator is launching in partnership with crypto exchange Kraken and crypto venture firms Pantera Capital, RK Capital and Borderless Capital. They are expected to support the launches of new regional SOL treasuries, providing potential investment, strategic guidance and infrastructure.
The DFDV Treasury Accelerator is already working to develop a presence in five regions, āonboarding new geographies into the pipeline each week.ā
Related: DeFi Development seeks $1B to boost Solana investments, expand treasury
Supporting new SOL treasuries
According to the announcement, the DFDV Treasury Accelerator will support regional Solana treasuries with technical, operational, and strategic infrastructure. This will include validating and asset management solutions as well as treasury, fundraising and brand alignment guidance.
The organization will hold equity stakes in each regional corporate treasury operation. Joseph Onorati, CEO of DeFi Dev Corp., said:
āThis model allows us to scale globally and support SOL accumulation without taking on any share dilution.ā
Cosmo Jiang, general partner at Pantera Capital, said āmost crypto treasury vehicles today are following the MicroStrategy model,ā referring to the world-leading Bitcoin (BTC) treasury company that rebranded to Strategy. He said DeFi Development has shown initiative to go beyond imitation:
āWhat excites us about DFDV is that theyāre not just copying the playbook. Theyāre evolving it.ā
According to Jiang, combining validator infrastructure, capital markets and international expansion through a franchising model sets DeFi Development apart from the competition. He said the firm āis building something structurally different and ahead of the curve.ā
Related: DeFi Development to refile $1B Solana plan after SEC filing snag
DeFi Development Corp. keeps expanding
The news follows previous reports highlighting a high level of corporate activity by DeFi Development. Earlier this month, the companyās stock surged 17% after it announced the purchase of $2.7 million in Solana as part of its ongoing treasury strategy.
At the end of June, DeFi Development announced plans to tokenize its shares through a partnership with crypto exchange Kraken. Per the announcement, the company will use xStocks, a tokenization platform created by Backed that announced a partnership with xStocksĀ in May.
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