Solana’s expansion into the Korean market receives a $ 20 million boost

News about Solana has made headlines in the past few months. The blockchain network now appears to be making great strides in Korea, with significant funding for its ecosystem.

“As one of the largest cryptocurrency markets in the world, Korea has an exceptionally high acceptance rate for cryptocurrencies”, said a representative from the Korean company ROK capital to Cointelegraph. “By expanding the Solana ecosystem to Korea, we hope to increase awareness and acceptance of decentralized applications in the Solana ecosystem and to encourage and incubate local teams to develop on Solana.”

A new Solana Eco Fund of USD 20 million, It was founded by ROK Capital and the Solana Foundation and is now available to help the world of Solana-based solutions, said a public statement by Cointelegraph on Thursday. Several projects have already been funded, including Synthesize Yes Symmetry.

Solana’s expansion into the Korean market receives a $ 20 million boost
Solana’s expansion into the Korean market receives a $ 20 million boost

“This new fund will not only provide capital, but also provide tailored services for the successful growth of projects in Korea.” He said Brain kang, General partner of ROK Capital.

“By partnering with Solana, the company hopes to advance a number of Solana-focused infrastructure projects, including those related to Web 3.0, Defi and NFTs.” it says in the statement from ROK Capital. “The goal will be to accelerate Solana’s expansion into the Korean market,” added the statement, later noting the additional involvement of additional DeSpread Yes Fact pad.

This morning was revealed another initiative of the Solana ecosystem, called Solverser accelerator. The initiative, which is supported by at least 21 companies, will provide mentoring and other resources to support projects based on the Solana network. A Solana-based marketplace for non-fungible tokens or NFTs called Metaplex also opened on Wednesday.

Solana’s SOL token ranks 16th on CoinMarketCap’s rankings with a price of $ 39.01 per coin at the time of writing and a market cap of approximately $ 10.6 million.

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