Astra Fintech launches $100 million Solana Ecosystem Fund

On the 21st (local time), global blockchain payment company Astra Fintech announced that it has signed a 2020 blockchain agreement to grow the Solana ecosystem across Asia.
According to the announcement, Strafintech has raised $100 million in funds to develop a PayFi solution based in Korea.
We actively support partnerships with developers and projects. PayFi is a term that encompasses blockchain-based payment systems, combining traditional finance and digital assets.
Through this fund, AstraFintech will foster collaboration with developers, businesses and regulators, allocate capital and develop the Solana ecosystem in Asia.
Solana's venture arm has been focusing on investing in the Korean market since the collapse of the Terra ecosystem in 2022.
Solana and the Solana Virtual Machine (SVM) are currently among the top 10 blockchains based on developer activity, behind only Ethereum, according to data from Capital.
Solana has already set up a $5 million development fund in 2021 to nurture projects in Southeast Asia, which is expected to become a hub for Web3 games.
In particular, thanks to its fast processing speed and low fees, Solana is drawing attention as a platform suitable for the expansion of the Web3 gaming ecosystem.