DeFi Development, in partnership with Superteam Japan, has unveiled Japan’s first Solana-based treasury, DFDV JP, valued at $222 million. Following the announcement, Solana’s native token, SOL, saw a positive price reaction, standing out among altcoins by returning to the green zone. This initiative marks DeFi Development’s second expansion in Asia and aims to provide institutional participants with Solana-based treasury and asset management infrastructure.
The DFDV JP will operate under the Solana Treasury Accelerator Program, which offers strategic and technical support for institutions to build and manage Solana treasuries. Its validator model infrastructure integrates balance sheet investments and ecosystem development. Parker White highlighted Japan’s leadership in blockchain innovation and regulation, noting that local collaboration will drive stronger corporate adoption.
Through Superteam Japan, the project gains deep access to the local blockchain community. The organization, known for hosting SuperTokyo Japan’s largest Solana event is also active in stablecoin projects through partnerships with Minna Bank and Fireblocks. Country lead Hisashi Oki described the partnership as a defining moment for Japan’s blockchain sector, opening the door for direct institutional engagement in Solana’s growth.
DeFi Development also announced the purchase of 196,141 SOL tokens at an average price of $202.76, increasing its total holdings to over 2 million SOL, now valued at $427 million.
On the market side, SOL’s outlook remains optimistic. Analysts suggest that maintaining prices above $229.49 could push it toward $238.56, while dropping below $222.17 could trigger a short-term correction to $214.84. Institutional momentum continues to build, with Bitwise recently updating its Solana ETF application to include staking features and lower fees. The final decision on the ETF is expected by October 16, with analysts anticipating multiple Solana ETF approvals around the same time. According to market expert Lark Davis, Solana investment products saw a record $706 million in weekly inflows, bringing total assets under management in Solana ETPs to over $5.1 billion doubling previous highs set before July.