Forward Industries to Bring Its NASDAQ Stock to Solana via Superstate Platform

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 $219.0 24h volatility: 7.6% Market cap: $118.88 B Vol. 24h: $11.04 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.

Bridging Wall Street and DeFi

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 $0.71 24h volatility: 10.7% Market cap: $262.64 M Vol. 24h: $52.50 M , Kamino KMNO $0.0760 24h volatility: 14.1% Market cap: $216.07 M Vol. 24h: $55.47 M , and Jupiter Lend JUP $0.47 24h volatility: 10.8% Market cap: $1.45 B Vol. 24h: $66.12 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.

Forward Industries’ On-Chain Vision

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 $112 344 24h volatility: 2.7% Market cap: $2.24 T Vol. 24h: $61.64 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.

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