The company’s CEO described the stock tokenization as a “DeFi Lego block,” suggesting it serves as a foundational piece for decentralized finance adoption.
DeFi Development Corp., a Solana treasury company formerly known as Janover, announced plans to tokenize its shares through a partnership with crypto exchange Kraken.
According to a Monday announcement, the company will use Kraken’s xStocks platform to bring its shares onchain. Kraken announced its tokenization platform in May, promising to offer investors tokenized shares of US-listed companies such as Apple, Tesla and Nvidia to users in other regions. The platform is built on the Solana blockchain.
“We view the tokenization of our stock as a DeFi Lego block, one that developers and institutions can build on top of,” Joseph Onorati, CEO of DeFi Development Corporation, said in a statement.
