A naukri.com initiative
Pymnts
1w
83
Image Credit: Pymnts
Kraken Launches Blockchain Partnership With DeFi Development
- Decentralized finance company DeFi Development has partnered with Kraken.
- The collaboration involves listing tokenized stock of DeFi Development's publicly traded equity on the Solana blockchain as part of Kraken's xStocks platform.
- The tokenized representation of DeFi Dev Corp. will trade under the symbol DFDVx.
- This partnership merges traditional capital markets with the Solana ecosystem, allowing for onchain access to the Company's equity.
- DFDVx being live onchain enables developers, institutions, and DeFi protocols to create new financial products.
- DeFi Dev Corp CEO views tokenizing stock as a DeFi building block for innovation.
- Kraken's xStocks general manager highlighted the demand for onchain access to US equities like DFDV.
- The tokenization of DFDV's shares occurs amidst increasing demand for real-world assets on Solana.
- Real-world assets offer CFOs opportunities in liquidity management, yield generation, and collateralization strategies.
- Kraken aims to offer DFDVx on its exchange.
- The partnership signifies a milestone in merging traditional finance with blockchain.
- The integration of DFDV's equity into the Solana ecosystem enables new financial possibilities.
- RWAs are based on real-world value and can enhance liquidity management for CFOs and treasurers.
- Demand for onchain access to tokenized equity like DFDVx is growing within the crypto community.
- The partnership marks a significant step in tokenizing equity for onchain finance innovations.
Read Full Article
5 Likes
For uninterrupted reading, download the app