Forward Industries has made history by launching SEC-registered shares on the Solana blockchain, marking the first time public equity can be utilized directly within decentralized finance protocols.
Bridging Traditional Equity and DeFi
Through a strategic partnership with Superstate’s Opening Bell platform, Forward Industries (NASDAQ: FWDI) has enabled ex-US holders to tokenize their shares. This integration unlocks a groundbreaking utility: investors can now post their equity as collateral on Kamino, a leading lending protocol on Solana.
Historic Milestone
This represents the first instance where regulated public equity is available for use as collateral within a live DeFi market, moving beyond synthetic or derivative structures.
Unlike previous attempts that relied on representations, these are Forward Industries’ Class A Common Stock. The records are updated on-chain in real-time by Superstate, acting as the registered SEC transfer agent. To ensure market stability, Pyth Network provides real-time price feeds, guaranteeing transparency across the integrated protocols.
Expanding Utility and Treasury Strategy
Public companies can extend the life and utility of their stock beyond traditional exchanges, enabling programmable, always-on ownership that connects directly to the broader digital-asset economy.
This move aligns with Forward Industries' broader strategy. In September 2025, the company initiated a dedicated Solana treasury strategy focused on acquiring SOL and increasing SOL-per-share. Supported by major backers like Galaxy Digital, Jump Crypto, and Multicoin Capital, the company is positioning itself at the intersection of traditional manufacturing and blockchain finance.