Janover Rebrands to DeFi Development Corp, Purchases $11.5M in Solana as Part of New Crypto Strategy

Janover (JNVR), a Nasdaq-listed fintech firm specializing in real estate, has officially rebranded to DeFi Development Corp and added another $11.5 million worth of Solana (SOL) tokens to its portfolio, the company revealed on Tuesday.

With the latest purchase, DeFi Development Corp now holds a total of 251,842 SOL tokens, including staking rewards, valued at approximately $36.5 million based on the current price of $145 per SOL.

Despite a 2.5% dip in its stock price to $38.3 today—down from nearly $80 last week—the company’s shares are still up over 800% since adopting its Solana-focused crypto treasury strategy. Meanwhile, Solana’s price rose nearly 5% in the past 24 hours, contributing to the broader crypto market’s upward trend.

This purchase marks another step in the company’s effort to position itself as the first U.S.-listed firm with a treasury centered on Solana and SOL. The strategy includes acquiring more SOL and running validators to contribute to the Solana blockchain’s security. The pivot follows the acquisition of a majority stake by former executives from Kraken, the crypto exchange, earlier this month.

Read more: Janover Expands SOL Holdings to $20M, Shares Surge 1700% Following Crypto Treasury Strategy

The purchase was funded by a $42 million financing round the company completed earlier this year. Based on the new numbers, each DeFi Development Corp share now represents 0.17 SOL, marking a 62% increase from its previous crypto purchase.

In addition to the rebranding, the company plans to update its Nasdaq ticker symbol to DFSV. Last week, DeFi Development Corp also announced a strategic partnership with Kraken to delegate part of the exchange’s SOL holdings to its validators. The company has also partnered with BitGo to acquire locked tokens through over-the-counter markets.