Forward Industries announced that its SEC-registered shares are now live on the Solana blockchain through Superstate's Opening Bell platform, marking the first time a public company's equity can be used directly within decentralized finance. The integration allows eligible ex-U.S. holders to post tokenized FWDI shares as collateral on Kamino, a leading Solana-based lending protocol, enabling investors to borrow stablecoins against their equity while maintaining exposure to FWDI stock.
The company distinguishes this approach from synthetic tokenized stock models by directly tokenizing Forward's Class A Common Stock through Superstate, a registered SEC transfer agent. This direct tokenization method, supported by real-time price feeds from Pyth, provides a foundation for expanded onchain equity functionality as regulatory guidance evolves. The collaboration also provides existing shareholders the option to hold their shares on Solana via Superstate's platform.
This development follows Forward Industries' September 2025 initiation of a Solana treasury strategy dedicated to acquiring SOL and increasing SOL-per-share through bespoke strategies and active management of the company's treasury. The company's Solana treasury strategy is supported by industry leading investors and operating partners, including Galaxy Digital, Jump Crypto, and Multicoin Capital. For more information on the company's Solana treasury strategy, visit https://sol.forwardindustries.com.
The integration represents a significant step in bridging traditional equity markets with decentralized finance, potentially creating new liquidity options for shareholders while expanding the utility of public company stock in blockchain-based financial systems. As regulatory frameworks continue to develop around digital assets and tokenized securities, this implementation could serve as a model for other public companies seeking to integrate their equity with decentralized finance protocols.
