By Connor Hart
Janover entered a non-binding letter of intent with cryptocurrency exchange Kraken.
Under the deal, Janover, whose AI-enabled platform serves the commercial real estate industry, said Tuesday that it will be delegated a portion of Kraken's current and future stake in Solana, one of the largest cryptocurrencies.
Terms of the deal weren't disclosed. Kraken currently has over 4.5 million Solana, or approximately $500 million, of delegation, Janover said.
The Boca Raton, Fla., company said the partnership will expand its role in supporting the Solana network, while also reinforcing its long-term treasury strategy. It added that validator revenue generated from Kraken's delegation will help fund operations and allow the company to continue building its Solana position over time.
Additional details regarding the agreement will be included in upcoming regulatory filings, the company said.
Shares rose 2.3%, to $76.19, in after-hours trading.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
April 15, 2025 17:01 ET (21:01 GMT)
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