The NASDAQ-listed company will use Superstate’s Opening Bell platform to tokenize its FORD shares, enabling 24/7 trading and DeFi integration.
By Zoran Spirkovski
Editor Hamza Tariq
Updated
2 mins read
Forward Industries, a company listed on the NASDAQ stock exchange under the ticker FORD, has announced plans to tokenize its common stock on the Solana SOL $220.7 24h volatility: 6.8% Market cap: $119.93 B Vol. 24h: $12.37 B blockchain.
The initiative is a collaboration with the financial technology firm Superstate and will use its regulated “Opening Bell” platform to bring the shares on-chain.
This move will allow shareholders to convert their traditional FORD shares into a tokenized format, which can then be held in a digital wallet on Solana.
According to a press release, the partnership aims to expand the stock’s accessibility by enabling around-the-clock trading and near-instantaneous settlement.
The initiative comes as major exchanges are exploring similar integrations, with Nasdaq’s own proposal to the SEC aiming to create a framework for trading tokenized securities.
A key part of the plan involves integrating the tokenized FORD shares into Solana’s DeFi ecosystem. Forward Industries is already working with major lending protocols on the network, including Drift DRIFT $0.75 24h volatility: 7.1% Market cap: $276.30 M Vol. 24h: $58.41 M , Kamino KMNO $0.0769 24h volatility: 12.7% Market cap: $218.56 M Vol. 24h: $50.29 M , and Jupiter Lend JUP $0.47 24h volatility: 9.3% Market cap: $1.47 B Vol. 24h: $69.72 M .
The goal is to make the tokenized stock eligible as collateral, allowing shareholders to borrow against their equity in a decentralized environment, a trend recently seen in the Middle East where Bybit began accepting a tokenized fund for borrowing.
Kyle Samani, Chairman of Forward Industries, commented on the development, stating that it reflects the company’s vision to become “on-chain-first.”
He noted that bringing the shares onto the Opening Bell platform reinforces the belief that Solana will be a core part of future capital markets.
Superstate CEO Robert Leshner, whose firm recently facilitated a similar tokenization for Galaxy Digital, added that the partnership marks a significant step toward making Solana a primary venue for public companies.
He suggested that a “new era of shareholder access and innovation is coming soon.” Superstate’s platform is designed to ensure compliance through features like wallet allow-listing and built-in transaction rules.
The decision follows Forward Industries’ recent strategic shift, adopting a crypto treasury strategy similar in concept to Bitcoin-holding BTC $112 885 24h volatility: 2.1% Market cap: $2.25 T Vol. 24h: $69.20 B firms like Metaplanet.
The company’s focus on Solana was solidified after it closed a $1.65 billion private investment on Sept. 11. The funding round was led by notable crypto investors, including investor Galaxy Digital, Jump Crypto, and Multicoin Capital.
This new initiative to tokenize its own equity is a logical next step in its deep integration with the Solana blockchain.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
As a Web3 marketing strategist and former CMO of DuckDAO, Zoran Spirkovski translates complex crypto concepts into compelling narratives that drive growth. With a background in crypto journalism, he excels in developing go-to-market strategies for DeFi, L2, and GameFi projects.
