Superstate has launched “Opening Bell,” a revolutionary platform enabling SEC-registered public shares to be issued and traded directly on blockchain networks.
The platform, announced on May 8, 2025, will first operate on the Solana blockchain, with SOL Strategies Inc. set to become the inaugural company to list its shares through this innovative system.
The platform aims to support real-time settlement, extend investor access, and create interoperability with DeFi protocols. It will enable around-the-clock trading and programmable securities, unlike current practices that rely on centralized stock exchanges and the current system where settlements can take multiple days.
SOL Strategies Moves First
Sol Strategies signed a non-binding memorandum of understanding with Superstate on April 25, 2025. The agreement aims to explore Superstate acting as a junior transfer agent for SOL Strategies, providing the necessary infrastructure to issue tokens representing common shares tradable on the Solana blockchain.
The company rebranded in 2024 from Cypherpunk Holdings and holds over 267,000 SOL tokens. It had previously initiated a process to uplist to Nasdaq and now aims to establish a dual-market presence.
How the Platform Works and Regulatory Path
Investors are added to an approved list, enabling them to buy or sell shares on their preferred decentralized exchange. This is only possible once they’ve completed standard identity verification (KYC) through Superstate or an affiliated wallet. The share transactions will settle instantly and appear in investors’ wallets like any other cryptocurrency.
Superstate has methodically built the regulatory framework for this innovation. It started by registering its digital transfer agent with the SEC earlier this year. The SEC plans to hold a roundtable on tokenization next week, with Superstate general partner Alex Zozos potentially attending.
For SOL Strategies, the move towards blockchain-based shares remains in the exploratory phase with no immediate plans to tokenize shares or impact current shareholders. The company emphasized that this exploration is subject to regulatory developments and has not yet engaged with securities regulators or the CSE.
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