Forward Industries to Tokenize $1.65 Billion Stock on Superstate
Forward Industries, a leading Solana-based company, has announced plans to tokenize its shares on the Solana blockchain through the Opening Bell platform, developed by Superstate. This move positions Forward Industries as one of the first public companies to issue tokenized equity directly on a blockchain, expanding its strategy to build a balance sheet anchored by Solana.
The agreement between Forward Industries and Superstate enables shareholders to convert their regular shares into tokenized Ford shares via Opening Bell, which was launched in May 2025 as a regulated on-chain emission platform. This initiative will facilitate 24/7 trading, instant settlement, and expanded global liquidity for the company’s equity. Additionally, Forward Industries intends to acquire an equity stake in Superstate to align interests and collaborate on further product development.
Partnership with Solana Protocols and Institutional Investors
Forward Industries is also working with large Solana-based protocols, including Drift, Kamino, and Jupiter Lend, to make tokenized Ford shares usable in their lending systems. This collaboration is a step towards integrating traditional equity into Solana’s decentralized financial infrastructure. The company’s goal is to become an “on-chain-first” company, with the partnership with Superstate marking a significant milestone in this journey.
Kyle Samani, co-founder of Multicoin Capital and Chairman of Forward Industries, stated that the partnership reflects the company’s aim to put Solana at the core of global capital markets. Robert Leshner, CEO of Superstate, added that the project marks the beginning of Solana becoming a home for tokenized public shares. The tokenization plan follows a private investment of $1.65 billion in public equity financing, led by Galaxy Digital, Jump Crypto, and Multicoin Capital.
Institutional Adoption of Solana
The growing adoption of Solana by institutions is evident in recent deals. Helius Medical Technologies announced its first Solana acquisition, buying over 760,000 SOL tokens at an average price of $231. Galaxy Digital also made headlines with $306 million in Solana purchases, collecting over $1.55 billion worth of SOL tokens over five days. Fragmetric and Defi Development Corp. plan to launch the first digital property credit in Solana by acquiring a listed company in South Korea.
Other institutions are moving in the same direction, with Brera Holdings presenting “Solmate”, a Solana-based financial and infrastructure company, financed with $300 million from ARK Invest, the Solana Foundation, and the Middle East. According to Pantera Capital, Solana is reaching an adoption point, with payment giants like Stripe and PayPal beginning to build on the network.
As Solana continues to gain traction, its blockchain has processed over 8.9 billion transactions in the second quarter of 2025, supporting a daily decentralized exchange volume of almost $4 billion. With 17 companies holding a combined 17.11 million SOL tokens, worth $4.03 billion at current prices, Solana’s role in corporate strategies for treasury assets is becoming increasingly prominent.
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