Forward -looking industries (Nasdaq: Ford) has collected $ 1.65 billion Cash and StableCOin obligations through a private investment in public equity (TUBE) Led by Galaxy Digital, Jump Crypto and Multicoin Capital, which marks the largest Solana-focused State Treasury Financing to Date.
The company’s shares ran 128% in trading before the market while sun rose by 2.3% after the message
The funding supports Forward Industries’ plan to become a listed institutional player in the Solana ecosystem. The Galaxy and Jump provides infrastructure and advisory services, while Multicoin, an early Solana Backer, brings investment expertise, according to a press release on Monday.
The company said its strategy aims to generate returns on chain and increase the long -term shareholder value through active participation in Solana’s decentralized financing markets.
Forward Industries competes with them as Upexi Inc. (Upxi)that owns more than 2 million sun -tokens ($ 430 million) and Sharps technology (Stss) After that raised $ 400 million to set up a Solana Treasury in August. Another Solana Treasury Company, Sol Strategies, which has more than 435k Sol -Tokens, said September 5 that it will transfer from Toronto to Nasdaq on September 5.
As part of the transaction, multicoin co-founder and CEO Kyle Samani is expected to become chairman of Forward’s Board. Galaxy President and Cio Chris Ferraro and Jump Crypto Cio Saurabh Sharma endorse as board observers.
“An institutional treasury can be deployed in sophisticated ways within the Solana ecosystem to create differentiated value,” Samani said in a statement.
Forward has also engaged Cantor Fitzgerald as a lead location agent, with Galaxy’s investment banking farm, which serves as a co-location agent and financial adviser.
Founded more than 60 years ago as a design company for medical and technology companies, Forward Industries now places themselves as a digital asset box operator focusing on Solana.
