Confirmed Tokenization Initiatives on Opening Bell
Superstate’s Opening Bell platform, launched in May 2025, is a regulated platform designed for tokenizing SEC-registered public equities on blockchain rails, starting with Solana. Several companies have moved beyond plans to concrete action.
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Galaxy Digital (GLXY): A clear leader in this space, Galaxy Digital launched its tokenized public shares on Solana on September 3, 2025. This was a significant milestone, marking the first time a Nasdaq-listed company tokenized its SEC-registered equity directly on a major blockchain through the Opening Bell platform.
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Forward Industries (FORD): This Nasdaq-listed company, which holds a large Solana treasury, has also announced its intention to tokenize its shares using Superstate’s Opening Bell on Solana. The company has expressed plans to integrate its tokenized stock as collateral within Solana’s DeFi lending protocols.
The Status of the Pantera-Backed Solana Company
Regarding the specific claim about a Pantera Capital-backed entity, the situation appears to be evolving. Recent and credible reporting from November 12, 2025, now indicates that Solana Company (HSDT), a Pantera-backed digital asset treasury firm, has indeed announced plans to tokenize its shares using Superstate’s Opening Bell platform. This development confirms that the previously circulated claim now has a basis in public statements.
What This Means for the Market
For traders, treasuries, and institutional investors, these developments signal a tangible step toward a new market structure with specific implications.
The primary benefits include the potential for 24/7 trading and near-instant settlement, moving beyond the constraints of traditional market hours and multi-day settlement cycles. Tokenized equities are programmable, which could unlock new forms of utility, such as using tokenized stock as collateral in on-chain DeFi protocols, a functionality Forward Industries is already exploring.
However, this innovation comes with a critical regulatory foundation. It’s essential to understand that these are not synthetic assets or derivatives. As demonstrated by Galaxy Digital’s launch, these tokenized shares are the actual SEC-registered securities, with Superstate acting as the official transfer agent to ensure compliance and legal ownership. This “compliance-first” approach is crucial for institutional adoption.
