Defi Development Corp. (DFDV), the Nasdaq-Genten company with a crypto treasury strategy aimed at Solana
SOL$ 135.28
Brings his equity on blockchain rails through Crypto Exchange Kraaks’s upcoming Token -Oried stock trade.
The shares of the company will be tokenized under the Ticker DFDVX on the Solana network, where he is affiliated with a select group of Tokenized versions of large shares such as Apple and Tesla on the upcoming Xstocks platform of Kraken, according to a Monday press release.
In practice, a DFDVX developer can integrate into a decentralized finance (Defi) application, allowing users to keep, act or even borrow against shares of a Nasdaq -Gente company directly on a blockchain. CEO Joseph Onorati called the Tokenized Equity ‘A Defi Lego Block’, which suggests that it could serve as a building block for more complex financial instruments.
The offer comes as an interest in tokenization of real-world assets (RWA) such as shares, funds and real estate rise. With tokenization, traditional financial products can trade in around the clock, become faster and develop use cases in decentralized financial (Defi) applications. It is potentially a huge opportunity: the market size of all Tokenized RWAs could reach $ 18.9 trillion in 2033, with shares in the chain being one of the most important group of assets, according to a report from BCG and Ripple. Rival Exchange Coinbase is said to also look for approval of the regulatory authorities to offer tokenized stock trading.
“We consider the tokenization of our stock as a Defi LEGO block, one that can build developers and settings on top,” said Joseph Onorati, CEO of Defi Dev.
“As part of the Xstocks Alliance, we have seen an incredible demand for access to US shares; the cryptom community is enthusiastic about access on chains to crypto-treasury strategy companies such as DFDV,” said Val Gui, general manager of Xstocks for cracking.
Read more: Crypto for advisers: trends in tokenization of real-world assets
