Forward Industries, the Nasdaq-listed company with the largest corporate Solana treasury, announced plans to bring its FORD stock onto the blockchain. The initiative will tokenize its shares on Solana via fintech firm Superstate and its Opening Bell platform, a regulated onchain issuance system that allows public companies to issue tokenized equity.
If implemented, shareholders could bridge their stock between brokerage accounts and the Solana blockchain, unlocking 24/7 trading, near-instant settlement, and access to global liquidity pools. The company has not yet confirmed regulatory approval, and details on timing remain unspecified.
Tokenized shares to serve as DeFi lending collateral
Forward Industries also intends to make its tokenized FORD stock usable as collateral in Solana-based DeFi lending. Partnerships are in progress with Drift, Kamino, and Jupiter Lend to accept tokenized equity across crypto lending platforms.
Kyle Samani, chairman of Forward Industries, emphasized that this approach strengthens Solana’s position at the heart of capital markets while providing shareholders direct participation in the tokenized economy.
Forward Industries accelerates Solana strategy
The announcement represents an escalation of Forward’s Solana-focused initiatives. On Sept. 8, the company closed a $1.65 billion Solana PIPE financing with backing from Galaxy Digital, Jump Crypto, and Multicoin Capital, building the largest corporate Solana treasury.
Additionally, Forward filed for an ATM equity offering of up to $4 billion to maintain flexibility in supporting its Solana holdings. Its $1.6 billion Solana reserve contributed to the total corporate Solana treasury reaching 17.11 million SOL tokens (worth ~$4 billion), representing nearly 3% of the circulating supply.