Learn about Janover announced the rename of DeFi Development in one article! And buy $11.5 million SOL

US real estate fintech company Janover (NASDAQ: JNVR) announced on Tuesday that it will officially rename it "DeFi Development Corp." and increase its purchase of Solana native token SOL worth $11.5 million.

According to the official statement, after the increase, the company's SOL holdings reached 251,842 (including pledge rewards), worth approximately US$36.5 million.

This move is part of the company's comprehensive promotion of its "cryptocurrency financial strategy" to become the first listed company in the United States to use Solana as its core asset.

The company also announced that it will change the stock code to "DFSV" in the future to reflect its new positioning.

Although JNVR shares fell 2.5% on Tuesday to close at $38.3, significantly below the high of nearly $80 last week, the stock has accumulated more than 800% since the company turned to cryptocurrency strategies.

According to the press release, JNVR per share is currently equivalent to 0.17 SOL, an increase of 62% from the last announced ratio.

What drives this transformation is the former executive team of cryptocurrency exchange Kraken.

The team acquired most of Janover's equity earlier this month and immediately launched a full transformation, including focusing on SOL assets and blockchain infrastructure.

In addition to continuing to purchase SOL, the company also plans to operate Solana verification nodes and actively participate in ecosystem construction.

In addition, the company announced a strategic cooperation with Kraken last week. In the future, Kraken will entrust some SOL assets to pledge nodes operated by DeFi Development Corp..

Meanwhile, DeFi Development Corp. has also partnered with cryptocurrency custody leader BitGo to purchase locked SOL tokens through over-the-counter trading (OTC).

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