SOL Strategies Inc. announced plans to explore tokenizing its equity on the Solana blockchain through a non-binding partnership with financial technology firm Superstate, potentially becoming the first public company to do so.
Non-Binding Pact Could Pave Way for Solana-Based Share Tokenization
The Toronto-based company, SOL Strategies Inc. (CSE: HODL) (OTCQB: CYFRF), signed a memorandum of understanding (MOU) with Superstate on April 25, 2025, to evaluate the latter’s “Opening Bell” platform. The platform aims to facilitate blockchain-based issuance and trading of SEC-registered public equities, enabling real-time settlement and interoperability with decentralized finance (DeFi) protocols.
Under the agreement, Superstate would act as a junior transfer agent, providing infrastructure to tokenize SOL Strategies’ common shares. CEO Leah Wald stated the initiative aligns with the company’s goal to drive innovation in capital markets.
“We believe publicly listed tokenized equity represents a natural evolution in capital markets, and Solana’s high-performance network is the ideal foundation for that future,” she said, emphasizing the potential to expand global investor access.
No shares have been tokenized, and the company clarified there is no immediate plan to convert existing equity or issue derivative tokens. The exploration remains subject to regulatory developments, and SOL Strategies has not yet engaged securities regulators or the Canadian Securities Exchange (CSE). The company stressed the initiative is compliance-driven and does not affect current operations or listing status.
SOL Strategies, formerly Cypherpunk Holdings Inc., focuses on building institutional-grade infrastructure for the Solana ecosystem. Superstate specializes in modernizing capital markets through blockchain integration.
The companies provided no timeline for the initiative, noting it may not advance beyond the exploratory phase. SOL Strategies pledged to update stakeholders as discussions progress.
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