DeFi Development Company, Dubbed 'MSTR of Solana,' Files $1 Billion Shelf Offering with SEC
In a significant move highlighting the growing bridge between traditional finance and blockchain innovation, DeFi Development Company (NASDAQ: JNVR), often referred to as the "MSTR of Solana," has filed a $1 billion shelf offering with the U.S. Securities and Exchange Commission (SEC).
According to a filing submitted on Friday, DeFi Development Company—recently rebranded from Janover—plans to offer a range of securities, including common stock, preferred stock, warrants, debt securities, and other financial instruments. The shelf registration allows the company the flexibility to issue these securities over time, rather than all at once, providing a strategic tool to raise capital as opportunities arise.
“We may sell any combination of these securities in one or more offerings, at prices and on terms to be determined prior to the time of the offering, with an aggregate offering price of up to $1,000,000,000,” the company stated in its SEC filing.
The timeline for when the securities will be offered remains unclear and will depend on regulatory approval.
DeFi Development Company’s growing connection to Solana is attracting attention across the crypto and finance sectors. Alongside firms like Sol Strategies, Upexi, and Galaxy Digital, DDC has been purchasing SOL tokens, providing investors a novel pathway to gain exposure to the Solana blockchain. However, DDC’s strategy diverges from traditional buy-and-hold approaches: the firm is also running validators and staking its tokens, turning passive holdings into productive, yield-generating assets.
The approach has drawn comparisons to Michael Saylor’s MicroStrategy, known for amassing a sizable Bitcoin treasury. Yet, DDC's model adds a layer of active participation in the Solana network, positioning it at the intersection of DeFi innovation and traditional asset management.
Beyond its crypto ambitions, DeFi Development Company continues to build on its original core business—providing software-as-a-service (SaaS) solutions for commercial property debt financing. The firm's pivot toward blockchain was set in motion last year when it began accepting Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) for its services, a move that was further strengthened by onboarding former Kraken executives to lead its transformation.
As of the latest disclosure, the company holds approximately $34.4 million worth of SOL tokens. Meanwhile, JNVR shares saw a nearly 5% increase following news of the shelf registration, reflecting growing investor interest in DDC's dual-path strategy of traditional finance and decentralized finance (DeFi).