Astra Fintech, a global blockchain payments provider, has launched a $100 million fund to support the Solana ecosystem’s growth throughout Asia, according to an April 21 announcement.
Through the fund, Astra Fintech plans to deploy capital to accelerate projects and form partnerships with developers, companies, and regulators. The fund’s base of operations will be in South Korea, a country Solana’s venture arm invested in after the collapse of the Terra ecosystem in 2022.
The fund will focus on projects and developers working on PayFi solutions — a conglomeration of systems that use blockchain technology to facilitate payments. Astra’s main suite of products attempts to blend traditional finance with digital currencies.
According to data from Electric Capital, Solana and Solana Virtual Machine (SVM) blockchains are currently within the top 10 blockchains for developer activity,