A major partnership has been announced by DeFi Development Corp., a public company that is accumulating Solana as a treasury asset, naming Solflare as its official wallet provider.
A new collaboration with one of the top SOL wallets is being used to further the vision of DeFi Dev, a company that has been aggressively accumulating Solana since its crypto strategy focusing on the altcoin was announced.
A letter of intent for strategic collaboration has been signed by the company with Solrise Group, the team behind the Solflare wallet. DeFi Dev and Solflare aim to boost the adoption of on-chain financial products, which includes staking and equity offerings.
DeFi Dev to Support Solflare with Crypto-Backed Debit Card Adoption
With over 4 million active users, Solflare is a resource that DeFi Dev plans to tap into to promote the adoption of its products.
According to the announcement, the initiative will center on educational content and other awareness programs to introduce DFDV to a wider user base. Solflare will also be supported by DeFi Development, which will adopt the wallet provider’s crypto-backed debit card as a company-issued payment card for its employees.
“This partnership marks a pivotal step toward deepening our involvement in the rapidly evolving Solana ecosystem,” stated Parker White, chief operating officer and chief investment officer of DeFi Dev Corp. “Working closely with Solflare will allow us to accelerate user onboarding, increase the visibility of our equity product, and leverage innovative co-marketing opportunities into current and future initiatives.”
The SOL holdings of Nasdaq-listed DeFi Development Corp. have been increased to nearly 1 million tokens following its most recent purchase last month. On July 21, it was disclosed by DeFi Dev that $19 million worth of Solana tokens had been added between July 14 and 20. The company’s total holdings were increased to 999,999 SOL through these purchases.
In addition to seeking to provide investors with value from its exposure to SOL, DeFi Dev is an active participant in the Solana ecosystem. This includes the staking of SOL to both support network security and earn staking rewards.
