Solana Company, which trades on the Nasdaq under the ticker HSDT, revealed that it will tokenize its exchange-traded shares using a platform called Opening Bell, developed by Superstate. This move allows investors to hold their shares in the form of tokens on the Solana blockchain, combining traditional share ownership with blockchain technology in a designed way TO Bring real-time access e Moreover flexibility.
Tokenized shares that do not lose their legal support
The tokenized HSDT shares will still be registered with the SEC, 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 outside of normal market hours.
ONLY WITHIN: @KyleSamanipresident of Forward Industries, Solana’s largest treasury firm, said they plan to tokenize their shares and “run the entire business on Solana,” including dividends, governance, stock splits, fundraising, payroll and supplier payments. pic.twitter.com/96kbZyZkkk
— SolanaFloor (@SolanaFloor) September 16, 2025
The operations will take place on Superstate’s infrastructure, built to bridge the gap between public securities and blockchain systems. This means trading and settlement around the clock, with the security of a regulated platform okay.
Pantera and Summer Capital are betting big on the future
In September 2025, Solana Company raised $500 million through a PIPE deal that included support from Pantera Capital and Summer Capital. This round gave the company the financial strength to lean into its blockchain strategy.
One of Pantera’s board members, Who he also sits with Solana Agency, explained that the majority of the on-chain market activity is expected to take place on Solana. With this in mind, this move is as much future-proofing as it is expanding investor access.
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How this will actually work in practice
The process behind Opening Bell is relatively simple. A token on the Solana blockchain will represent each share of HSDT. These tokens will reflect the rights of normal actions, including things like ownership and compliance with US securities law.
What makes this system different is the ability to trade these tokens at any time of the day, not just during normal trading hours. For investors, this is a big step forward in terms of convenience and speed without sacrificing legal security.
Things investors should think about
Just because stocks will exist in token form doesn’t mean regulatory guardrails will disappear. These shares are still under the umbrella of the SECand their tokenization does not change what they represent. What changes is how you can access and move them.
The main things to keep an eye on 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 might mean for the broader market
This isn’t just a company trying something new. It’s part of a larger pattern Where traditional finance is starting to interact more directly with cryptographic binaries.
Tokenization of shares could become more common if others see this approach working, especially if it results in faster liquidation and broader access without compromising compliance. It may take some time, but this type of experiment can lead to broader changes in the functioning of capital markets.
Where does it go from here
Solana Company’s decision to tokenize its HSDT shares on the Solana blockchain through Superstate’s platform could open the door for more public companies to follow suit. The structure still complies with the regulations introducing new tools for trade and ownership.
Investors and market watchers will now be paying close attention to how this will play out in terms of adoption, performance and whether others will be inspired to make the same leap.
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Key points
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Solana Company will tokenize its Nasdaq-listed HSDT shares using Superstate’s Opening Bell platform, enabling 24/7 trading on the Solana blockchain.
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Tokenized shares will remain registered with the SEC, maintaining all legal protections and offering investors the ability to hold and trade shares via crypto wallets.
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A $500 million PIPE deal led by Pantera Capital and Summer Capital helped fund this move, allowing Solana Company to embrace blockchain infrastructure.
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Each HSDT token will represent a real share with full ownership rights, allowing investors to trade outside of normal market hours without sacrificing compliance.
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This could signal a broader movement towards blockchain-based capital markets as traditional finance experiments with tokenized public capital models.
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