Solana Company Will Tokenize Its Nasdaq Shares on Solana

Ben Graham · Novembro 13

Solana Company, which trades on Nasdaq under the ticker HSDT, has revealed that it will tokenize its publicly listed shares using a platform called Opening Bell, developed by Superstate. This move lets investors hold their shares in token form on the Solana blockchain, merging traditional equity ownership with blockchain technology in a way that’s designed to bring real-time access and more flexibility.

Tokenized Shares That Don’t Lose Their Legal Backing

The tokenized HSDT shares will still be SEC-registered, so nothing changes in terms of legal protections or shareholder rights. The only difference is that investors will be able to hold these shares in crypto wallets and trade them beyond regular market hours.

JUST IN: @KyleSamani, Chairman of Forward Industries, the largest Solana treasury company, said they plan to tokenize their stock and “run the entirety of the business on Solana,” including dividends, governance, stock splits, fundraising, payroll, and vendor payments. pic.twitter.com/96kbZyZkkk

— SolanaFloor (@SolanaFloor) September 16, 2025

The trades will happen over Superstate’s infrastructure, which is built to bridge the gap between public securities and blockchain systems. That means round-the-clock trading and settlement, with the security of a regulated platform in place.

Pantera and Summer Capital Bet Big on the Future

Back in September 2025, Solana Company raised $500 million through a PIPE deal that included backing from Pantera Capital and Summer Capital. That round gave the company the financial muscle to lean into its blockchain strategy.

One of Pantera’s board members, who also sits with Solana Company, explained that most on-chain market activity is expected to happen on Solana. With that in mind, this move is as much about future-proofing as it is about broadening investor access.

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How It Will Actually Work in Practice

The process behind Opening Bell is relatively straightforward. A token on the Solana blockchain will represent each share of HSDT. These tokens will mirror the rights of normal shares, including things like ownership and compliance with U.S. securities law.

What makes this system different is the ability to trade those tokens at any time of day, not just during normal stock exchange hours. For investors, that’s a big jump in convenience and speed without giving up legal security.

Things Investors Should Be Thinking About

Just because the shares will exist in token form doesn’t mean the regulatory guardrails go away. These shares are still under the umbrella of the SEC, and tokenizing them doesn’t change what they represent. What it does change is how they can be accessed and moved around.

The main things to watch will be how many people actually use the token version, how liquid they are, and whether wallet-based ownership works well at scale.

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What This Could Mean for the Broader Market

This isn’t just about one company trying something new. It’s part of a larger pattern where traditional finance is starting to interact more directly with crypto rails.

Tokenizing shares could become more common if others see this approach working, especially if it brings faster settlement and wider access without compromising on compliance. It may take time, but this kind of experiment can lead to broader changes in how capital markets function.

Where It Goes From Here

Solana Company’s decision to tokenize its HSDT shares on the Solana blockchain through Superstate’s platform might open the door for more public companies to follow suit. The structure still respects regulation while introducing new tools for trading and ownership.

Investors and market watchers will now be paying close attention to how this plays out in terms of adoption, performance, and whether others are inspired to take the same leap.

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Key Takeaways

Solana Company will tokenize its Nasdaq-listed HSDT shares using Superstate’s Opening Bell platform, allowing 24/7 trading on the Solana blockchain.
Tokenized shares will remain SEC-registered, keeping all legal protections while giving investors the option to hold and trade shares via crypto wallets.
A $500 million PIPE deal led by Pantera Capital and Summer Capital helped fund this move, positioning Solana Company to embrace blockchain infrastructure.
Each HSDT token will represent a real share with full ownership rights, letting investors trade outside regular market hours without giving up compliance.
This could signal a broader move toward blockchain-powered capital markets, as traditional finance experiments with tokenized public equity models.

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