Forward Industries (FORD), a Nasdaq-listed company, has revealed plans to bring public equity onto the blockchain. The Solana-focused treasury firm has entered a strategic partnership with fintech company Superstate, with the collaboration centered on tokenizing FORD stock directly on the Solana network.
As part of the agreement, Forward Industries has also taken an equity stake in Superstate. Both firms have positioned the partnership as a step toward establishing Solana as a key foundation for digital capital markets. The initiative reflects a growing belief that blockchain infrastructure can serve as a backbone for the trading and management of traditional financial assets.
Stock trading moves on-chain
The partnership will soon enable investors to transfer their FORD shares to Superstate’s Opening Bell platform. The system, which launched in May 2025, is a regulated on-chain issuance platform that supports blockchain-based asset issuance and management. Through this setup, FORD stock will be available for over-the-counter trading at any time, offering around-the-clock accessibility. The move positions the company among the first to bring a publicly listed equity into a tokenized format on the blockchain.
Forward Industries’ leadership indicated that the initiative reinforces its confidence in Solana’s role within future capital markets. By bridging its public equity with blockchain, the company believes it is giving shareholders a direct opportunity to participate in the emerging tokenized economy.
Expanding into DeFi collateralization
Looking ahead, Forward Industries is preparing to collaborate with major Solana lending protocols such as Kamino and Jupiter Lend. The plan is to make tokenized FORD equity usable as collateral within decentralized finance applications. If successful, this would allow traditional shareholders to engage in borrowing, lending, and other DeFi-native financial activities using their stock holdings.
Exciting update 🚀🚀🚀
Forward Industries $FORD Announces Intent to Launch Tokenized Shares on Solana via Superstate’s Opening Bell
Read the press release: https://t.co/wzYJ9dycyw pic.twitter.com/AwxatfRUnV
— Forward Industries – $FORD (@FWDind) September 22, 2025
This strategy highlights how tokenized assets can evolve beyond trading into practical use cases within decentralized ecosystems. By merging equity ownership with DeFi mechanisms, the company aims to unlock new forms of liquidity and utility for investors.
Anon: How does it feel to be the largest Solana treasury in public markets? $FORD
Answer: pic.twitter.com/EQoHS8rjF5
— Forward Industries – $FORD (@FWDind) September 23, 2025
Backed by significant funding
The announcement follows Forward Industries’ recent $1.65 billion private investment in public equity (PIPE) financing, which closed on September 11, 2025. The raise was led by Galaxy Digital, Jump Crypto, and Multicoin Capital, and is recognized as the largest Solana-focused treasury raise to date. This substantial backing has provided Forward with the financial foundation to accelerate its blockchain initiatives.
Broader trend of tokenized assets
The tokenization of real-world assets has gained strong momentum in recent months, as more companies explore ways to digitize traditional securities. Many firms are gradually experimenting with blockchain-based representations of stock, bonds, and funds. Forward Industries, however, has opted to move directly toward full-scale tokenization of its equity, bypassing incremental approaches.
Industry observers suggest that the company’s move could mark a milestone in merging traditional finance with decentralized infrastructure. By leveraging Solana’s capabilities and Superstate’s regulatory framework, Forward is positioning itself at the forefront of tokenized capital markets.
With traditional assets now finding their way into blockchain ecosystems, initiatives like this may shape the next phase of integration between financial markets and decentralized technology.