Mentioned:
Publicly traded companies might be coming soon to the Solana blockchain. And Sol Strategies wants to be a first mover.
What’s happening:
- Sol Strategies (CSE: HODL) has entered into a new partnership with blockchain capital markets company Superstate to explore tokenizing their shares on the Solana blockchain
Why it matters:
- Sol Strategies is aiming to become the first publicly traded company in history to tokenize their shares on the Solana blockchain
Going deeper:
- Superstate has built a platform on the Solana blockchain known as Opening Bell which allows companies to tokenize their equity for non-stop global trading with real time settlement
- Opening Bell is also compliant with the regulations of the United States Securities and Exchange Commission and uses a registered transfer agent to handle share issuance, redemptions and dividends
The intrigue:
- Sol Strategies just recently made waves when they announced they had secured a $500M USD convertible note financing from ATW Partners to accumulate more Solana tokens to hold directly as an asset
The fine print:
- The process of tokenizing Sol Strategies’ shares on the Solana blockchain will ultimately still need to go through legal and regulatory review and there is not yet a definitive timeline for when they may begin trading on the Opening Bell platform
