Leading Solana treasury Forward Industries tokenized FWDI stock via Superstate

Forward Industries (FWDI), the largest firm holding Solana treasury assets, has successfully issued its SEC-registered shares as onchain tokens on the Solana blockchain via Superstate's Opening Bell platform. This marks the first instance where a public company's equity can be utilized directly within decentralized finance (DeFi). Forward holds approximately 6.8 million SOL tokens, valued around $832 million. The tokenized FWDI, issued as an SPL token, can now be used as collateral on Solana DeFi protocols like Kamino, enabling users to borrow stablecoins against their stock holdings, supported by Pyth price feeds. Superstate manages the process by holding the shares via a transfer agent, linking traditional ownership records to allowlisted Solana wallets and facilitating voting rights. This direct tokenization approach, which avoids synthetic derivatives, ensures the onchain tokens are legally equivalent to traditional shares.

(Source：The Block)