James Richardson
The newly rebranded DeFi Development Corporation (JNVR), previously known as Janover, has significantly expanded its Solana-based crypto strategy. On Tuesday, the company announced the acquisition of 88,164 SOL tokens, valued at approximately $11.5 million, reinforcing its aggressive commitment to Solana.
This marks the companyโs first major digital asset purchase since completing a $42 million funding round, pushing its total SOL holdings to around $34.4 million. According to the announcement, DDC intends to continue staking its treasury assets, operating Solana validators, and gradually move toward a long-term crypto accumulation strategy beyond SOL.
Public Companies Are Embracing Solana โ and DDC Is Leading the Way
DDC is among a growing number of publicly listed firms turning to Solana as a core blockchain investment. The company joins others like Sol Strategiesโwhich rebranded from Cypherpunk Holdings to focus on SOLโand Upexi, a consumer goods firm that recently launched its own Solana initiative. Blockchain data even shows Galaxy Digital has swapped over $100 million in ETH for SOL in just the last two weeks, further illustrating this trend.
Unlike the Bitcoin-focused treasury models pioneered by figures like Michael Saylor, the Solana approach introduces yield through staking, transforming SOL into a productive treasury asset. This creates a hybrid model where companies function similarly to Bitcoin miners, but through validator operations and network contributions instead of hardware investments.
A Rebrand With a Clear Vision for Web3 and Commercial Real Estate
The rebrand reflects a broader transformation for the company. While it started as a fintech SaaS provider for commercial property debt financing, the new DeFi Development Corporation name signals a pivot to crypto-native technologies. DDC still offers data and subscription software products, but now integrates digital assets into its financial model โ including accepting BTC, ETH, and SOL as payment.
With its recent moves, DDC now reports a โSOL per Shareโ ratio of 0.17, translating to approximately $23.47 in SOL value per share. Its stock (JNVR), which previously surged after its initial SOL acquisition, climbed another 3% during volatile trading today. The firm also announced plans to change its ticker symbol in alignment with its new brand identity.
Leadership Ties to Kraken Strengthen DDCโs Crypto Ambitions
The transformation is backed by key hires from the Kraken leadership team. Joseph Onorati (CEO) and Parker White (COO)โboth formerly with the crypto exchangeโhave joined DDC to steer its crypto-first roadmap. In addition, Marco Santori, Krakenโs former Chief Legal Officer, has been added to the board.
Founder Blake Janover and William Caragol will remain active board members as the company moves forward with its Web3 transition.
Notably, DDC has secured a staking partnership with Kraken, through which Kraken will delegate a portion of its 4.5 million SOL stash (worth around $500 million) to validators operated by DDC. This partnership enhances DDCโs presence within the Solana ecosystem while giving Kraken a way to support network decentralization and infrastructure development.
