TLDR
- Forward Industries plans to tokenize its NASDAQ shares on Solana blockchain through Superstate’s Opening Bell platform
- Tokenized FORD stock will serve as collateral in DeFi lending protocols including Drift, Kamino, and Jupiter Lend
- The move follows Forward’s $1.65 billion Solana-focused investment that created the largest corporate Solana treasury
- Shareholders could access 24/7 trading and near-instant settlement for their equity
- Forward holds 17.11 million SOL tokens worth about $4 billion, representing nearly 3% of total Solana supply
Forward Industries announced plans to tokenize its common stock on the Solana blockchain through a partnership with fintech firm Superstate. The NASDAQ-listed company will use Superstate’s Opening Bell platform to bring its equity onchain.
The tokenization would allow shareholders to bridge their traditional FORD shares between brokerage accounts and Solana wallets. This setup could enable 24/7 trading and near-instant settlement for equity transactions.
Forward Industries has not disclosed whether regulators have approved the tokenized shares program. The company did not respond to requests for additional information about the regulatory status.
The tokenized FORD stock will integrate with Solana’s DeFi ecosystem as acceptable collateral. Forward is working with lending protocols Drift, Kamino, and Jupiter Lend to establish its equity as eligible collateral.
DeFi Integration Strategy
The company’s approach mirrors recent trends where tokenized assets serve as collateral in decentralized lending. Shareholders would be able to borrow against their equity holdings in a decentralized environment.
Kyle Samani, chairman of Forward Industries’ board, said the move reinforces their belief that Solana will be central to future capital markets. He stated this gives shareholders direct participation in the tokenized economy.
Superstate CEO Robert Leshner described the partnership as a step toward making Solana a primary venue for public companies. His firm recently facilitated similar tokenization projects for other companies including Galaxy Digital.
The Opening Bell platform includes compliance features like wallet allow-listing and built-in transaction rules. These tools aim to maintain regulatory requirements while operating on the blockchain.
Corporate Solana Treasury
Forward Industries closed a $1.65 billion Solana-focused private investment on September 8. The funding came from Galaxy Digital, Jump Crypto, and Multicoin Capital.
The company used these funds to build the largest corporate Solana treasury. Forward now holds 17.11 million SOL tokens worth approximately $4 billion.
This treasury represents nearly 3% of the entire Solana token supply. The company also filed for an at-the-market equity offering program of up to $4 billion.
Forward’s Solana holdings pushed the total amount of SOL held by companies to 17.11 million tokens. This demonstrates growing corporate adoption of the blockchain platform.
The tokenization initiative represents the next phase of Forward’s blockchain integration strategy. The company has positioned itself as an “on-chain-first” organization following its major Solana investment.
