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Solana launches $20m fund to advance ecosystem in Korea

Solana launches $20m fund to advance ecosystem in Korea
CoinDesk Analysis TeamCoinDesk Analysis TeamCoinDesk

The launch comes only weeks after Solana drew $60 million in funding for projects in Brazil, Russia, India and Ukraine.

Solana Foundation launched a $20 million fund to further the ecosystem’s expansion in South Korea with blockchain fund ROK Capital.

  • ROK Capital hopes to spur Solana-based infrastructure projects in Web 3 and decentralized finance (DeFI), it said Thursday.
  • The fund is also backed by blockchain consulting firm FactBlock and Korean accelerator DeSpread.
  • “Solana is one of the fastest-growing networks in the industry, and in addition to injecting capital, this new fund will provide tailored services for projects to successfully accelerate in Korea,” ROK Capital General Partner Brian Kang said.
  • The fund's launch follows only weeks after Solana drew $60 million in funding from Hacken, Gate.io and others to support projects in Brazil, Russia, India and Ukraine.

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CoinDesk Analysis Team

CoinDesk is the media platform for the next generation of investors exploring how cryptocurrencies and digital assets are contributing to the evolution of the global financial system.

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