TechFlow, Dec 4 — According to Investing.com, DeFi Development Corp. (NASDAQ: DFDV), the treasury company for SOL, announced a strategic partnership with Perena, a stable bank built on the Solana blockchain, to generate yield from its stablecoin reserves.
The company plans to use part of its existing stablecoin holdings to mint Perena's USD STAR (USD) stablecoin, expecting to achieve an annualized yield of approximately 15%. These proceeds will be used for operating expenses, share buybacks, and purchasing additional Solana (SOL) tokens.
"This collaboration adds a new dimension to our treasury management, enabling us to generate meaningful returns from our stable reserves while remaining focused on advancing the core mission of SPS," said Joseph Onorati, CEO of DFDV.
