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- DFDV and Fragmetric launch South Korea’s first Solana treasury.
- DFDV holds 2M SOL, investing $22.88M in Solana-linked ventures.
- SOL drops 7%, FRAG jumps 2% amid high trading volumes.
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In a landmark development for the Solana ecosystem, Nasdaq-listed DeFi Development Corp (DFDV) and Solana-based liquid staking platform Fragmetric Labs announced the launch of South Korea’s first Corporate Solana treasury. The firms will acquire a publicly listed Korean company to establish the treasury, signaling a major step for Solana adoption in Asia.
The news was revealed during the Solana Oriental event on September 22, part of Korea Blockchain Week. Fragmetric co-founder Sang Kim had teased the announcement last week, generating anticipation among Solana enthusiasts and investors.
We're extremely excited to announce that Fragmetric Labs and DeFi Development Corp. (NASDAQ:DFDV) will launch the first Solana Digital Asset Treasury in Korea through the acquisition of a Korean publicly-listed company. pic.twitter.com/rzGbVvmEXT
— Fragmetric (@fragmetric) September 22, 2025
Treasury Accelerator Drives Global Growth
DeFi Development Corp, the second-largest Solana treasury firm, has been actively expanding its Treasury Accelerator initiative. The program funds other digital asset treasuries (DATs) and uses the company’s balance sheet to promote SOL per share growth. Recently, DFDV invested $22.88 million in Nasdaq-listed Flora Growth, rebranding it as ZeroStack to accumulate Solana.
Currently, DFDV holds over 2 million SOL, valued at nearly $500 million. On Friday, the firm added 62,745 SOL to its holdings, while its stock closed up 4.62% at $16.93. This move highlights a growing trend of institutional adoption of Solana as a treasury asset.
Market Reaction: SOL Slides, FRAG Surges
Despite the positive news, SOL price dropped over 7% to $220 amid broader market turbulence. The intraday range spanned $218 to $240, with trading volumes rising 150% as traders moved to short SOL.
Meanwhile, Fragmetric’s governance token, FRAG, experienced a 2% jump, trading around $0.04196. Its 24-hour trading volume surged 161%, reflecting increased market interest. Crypto analyst Kaleo remains optimistic, forecasting SOL could reach $1,000 as the total Solana treasury surpasses $4.3 billion.
Solana Adoption Gains Momentum
The launch of South Korea’s first Solana treasury marks a significant milestone for the Solana ecosystem and corporate crypto adoption. While SOL faces short-term volatility, institutional moves like DFDV’s expansion signal strong long-term potential for Solana in global markets.
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Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Solana Becomes Top Hub for BTC Liquidity as WBTC Flows Surge
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