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2w ago

Forward Industries to Tokenize Nasdaq Stock on Solana via Superstate

Shareholders would be able to move FORD into Solana wallets for around-the-clock trading, with timing and approvals still undisclosed.

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Forward Industries plans tokenized shares launch on Solana with Superstate
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Overview

  • Forward will use Superstate’s Opening Bell platform to let investors convert brokerage-held FORD into tokenized shares on Solana, enabling near-instant settlement and 24/7 trading.
  • Superstate CEO Robert Leshner said holders will be able to bridge FORD between brokerages and Solana wallets, with compliance features such as wallet allow-listing and transaction rules.
  • The company is working with Solana lending protocols Drift, Kamino, and Jupiter Lend to make tokenized FORD eligible as collateral in decentralized lending markets.
  • The initiative follows a $1.65 billion PIPE led by Galaxy Digital, Jump Crypto, and Multicoin that funded about 6.8 million SOL purchases, alongside a subsequent $4 billion at-the-market program filing with Cantor Fitzgerald.
  • Forward also plans to take an equity stake in Superstate to align interests, while the firm has not disclosed an implementation timeline or specific regulatory green lights.