DeFi Development Corp's Stock to Be Tokenized Through Partnership
DeFi Development Corp., formerly Janover, plans to tokenize its shares via a partnership with Kraken, utilizing Kraken’s xStocks platform on the Solana blockchain. This initiative aims to enable investors to access tokenized shares of US-listed companies. CEO Joseph Onorati described the tokenization as a foundational element for future development. The company's share price increased by over 3% before stabilizing at $25.03, up 0.6% for the day. Tokenization allows traditional financial instruments to be issued as blockchain tokens, enabling fractional ownership and peer-to-peer trading. Since its rebranding, DeFi Development has invested $11.5 million in Solana and seeks an additional $1 billion in capital. Tokenized stocks represent a small segment of the $24.3 billion real-world asset market, totaling $365 million. Other companies, including Robinhood, are also exploring tokenized stock offerings for non-US investors.
