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Solana-Focused Upexi to Tokenize Shares; Added 56K SOL to Holdings
The Nasdaq-listed firm has tapped Superstate's equity tokenization tool to make its shares available on the blockchain.
What to know:
- Upexi plans to tokenize its SEC-registered shares on the Solana network using the Opening Bell platform.
- The company has increased its Solana holdings to 735,692 SOL, valued at approximately $105 million.
- Upexi is part of a trend among publicly-traded companies investing in cryptocurrencies, following a $100 million capital raise led by GSR.
In this article
Nasdaq-listed Upexi (UPXI), a consumer-goods company with a crypto treasury strategy focused on Solana
, said on Thursday it will tokenize its SEC-registered shares on the Solana network.The firm has tapped Opening Bell, the tokenized equity issuance platform developed by digital asset manager Superstate and initially available on Solana.
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Read more: Superstate Expands Into Tokenized Equities; SOL Strategies to Be First Listing
Tokenized shares are able to trade around the clock, settle in real time and be held in crypto wallets. It's one of the latest trends within the booming tokenization sector, with firms like Kraken, Coinbase and Robinhood eyeing to take part in it.
The company also revealed that it added some 56,000 SOL to its treasury through the past month, bringing total holdings to 735,692 SOL, worth roughly $105 million.
Upexi is part of the growing cadre of publicly-traded companies that invest in cryptocurrencies, seeking to emulate the success of Michael Saylor's Strategy, the largest corporate owner of bitcoin
. The firm pivoted to a Solana treasury strategy in April raising $100 million in a private placement led by crypto trading giant GSR.Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Krisztian Sandor
Krisztian Sandor is a U.S. markets reporter focusing on stablecoins, tokenization, real-world assets. He graduated from New York University's business and economic reporting program before joining CoinDesk. He holds BTC, SOL and ETH.
AI Boost
“AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk's AI Policy.
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