Janover has successfully rebranded to “DeFi Development Corporation” (DDC), a change that coincided with its purchase of Solana (SOL) coins. The company has also acquired 88,164 SOL for approximately $11.5 million.
Janover Rebrands to DDC
Janover’s roots lie in financing commercial property debt. However, earlier this month, it came under the control of former Kraken executives seeking to repurpose the company’s balance sheet for blockchain assets.
By rebranding as DeFi Development Corporation, the firm aims to signal to investors and the broader market that its mission now centers on decentralized finance and on-chain capital management.
Alongside the rebrand, the firm announced plans to change its Nasdaq ticker from JNVR to DFDV. It also claims to have plans to launch a publicly accessible dashboard that displays its Solana holdings in real-time, including metrics such as SOL per share and staking yields. Commenting on the rebranding, the CEO, Joseph Onorati, said:
“This marks the beginning of a new chapter for the business. Our mission is to bring transparent, crypto-native capital allocation into the public markets — and this name change reflects that commitment.”
DDC Purchases $11.5M SOL
DeFi Development’s purchase of 88,164 SOL on April 22 represents a key element of its new treasury mandate, with the crypto bought at the prevailing market price, totaling approximately $11.5 million.
The additional crypto Acquisition raises the company’s total Solana holdings to around 251,842 SOL, valued at approximately $34.4 million, considering earlier purchases and staking rewards. Notably, the recent purchases were made possible by a $42 million capital raise announced earlier this month.
According to an official press release, the firm immediately staked the recently acquired crypto, locking it in the network to help validate transactions and earn a yield, similar to earning interest on a bank account.
Meanwhile, news of the rebrand and SOL acquisition was met with enthusiasm by its community of investors. The firm’s publicly listed shares, JNVR, have seen a 14% price jump, as trading volume spiked. At the time of writing, it traded at $46.50 with a market capitalization of over $65 million.
Why Solana?
Solana has emerged as a popular choice for institutional investors because its network can process thousands of transactions per second at extremely low fees, making it ideal for decentralized applications and high-volume trading.
Recent institutional products, such as Canada’s first spot SOL ETFs, have attracted significant inflows, driving the price of SOL up. Companies are increasingly diversifying into crypto treasuries, including Galaxy Digital and ARK Invest. Solana has seen a 9% price increase over the past 24 hours and is currently trading at $152 at the time of writing.
