Solana’s adoption in Asia is advancing with a new corporate milestone. DeFi Development Corp (DFDV), a Nasdaq-listed firm holding one of the largest Solana reserves, has partnered with Fragmetric Labs to introduce South Korea’s first Solana treasury. The initiative involves acquiring a publicly listed company in the country to establish the treasury framework. Executives disclosed the plan during Korea Blockchain Week at the Solana Oriental event.
DFDV Expands Treasury Accelerator Strategy
DFDV and Fragmetric Labs will jointly acquire a Korean publicly traded firm to embed Solana as a treasury-grade asset. Fragmetric co-founder Sang Kim hinted days earlier at a “game-changing” announcement, which was confirmed during the Solana Oriental gathering. The collaboration extends an already established relationship between the two companies, reflecting DFDV’s broader plan to integrate Solana into corporate balance sheets worldwide.
The global rollout is structured through DFDV’s “Treasury Accelerator,” an initiative aimed at funding digital asset treasuries (DATs). The company has committed its balance sheet to support corporate adoption of Solana while seeking to increase SOL per share growth. One of its first Treasury Accelerator deals involved a $22.88 million investment in Flora Growth, a Nasdaq-listed cannabis company. Flora Growth will transition into “ZeroStack,” tasked with accumulating Solana as part of its new corporate direction.
DFDV’s exposure to Solana remains among the largest in the market. The company currently holds 2,095,748 SOL, valued at nearly $500 million. Its commitment to accumulation was underscored last week when it purchased an additional 62,745 SOL tokens. Despite ongoing volatility across crypto markets, DFDV stock closed Friday at $16.93, marking a 4.62% daily rise though weekly gains were limited.
South Korea Positioned for Corporate Crypto Shift
Industry observers view the launch of South Korea’s first corporate Solana treasury as a potential trigger for broader regional adoption. By positioning SOL as both a decentralized finance backbone and a treasury-grade asset, the project could provide a framework for corporate integration across Asia. Market participants suggested that if the South Korean model succeeds, it may be replicated by other firms in neighboring economies.
During Korea Blockchain Week, DFDV executives emphasized that the initiative is designed not only to support local adoption but also to align with a global strategy of embedding Solana in mainstream corporate finance. Fragmetric Labs, known for its Solana-based liquid staking platform, has been central in advancing that vision in the Asia-Pacific region.
The unveiling underscores the growing role of Solana in institutional strategies at a time when companies are increasingly seeking alternatives to traditional treasury assets. By leveraging DFDV’s balance sheet and Fragmetric’s regional expertise, the move signals a strategic step toward positioning Solana within corporate finance frameworks.
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About the Author: Brenda Mary
