Tokenized assets have spent years circling decentralized finance. Treasuries arrived first. Stablecoins followed. Now, public equities are stepping in—not as abstractions, but as working financial collateral.
Superstate has announced a milestone integration with Kamino, one of Solana’s leading lending protocols, enabling tokenized, SEC-registered public equities to be used directly as collateral in DeFi markets for the first time.
With the launch, eligible investors can supply tokenized shares issued through Superstate’s Opening Bell platform as collateral on Kamino and borrow stablecoins—while maintaining full economic exposure to the underlying stock.
This marks a shift from tokenized equities as passive representations to functional onchain assets with real financial utility.
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From Tokenization to Use
Until now, most tokenized equities stopped at visibility: price feeds, dashboards, or informational mirrors of public stocks. Superstate’s integration pushes further—embedding regulated equities directly into an onchain credit market.
“Collateral is a natural place to start. We’re building toward a world where regulated assets can do more than just sit onchain.”
Robert Leshner, CEO of Superstate
At launch, tokenized shares of Forward Industries (FWDI) are live on Kamino. Additional issuers already announced through Opening Bell—including Exodus (EXOD) and Solana Company (HSDT)—are expected to follow as their tokenized shares go live.
Why This Matters
The integration offers a real-world reference point for how compliant, exchange-listed assets can function inside decentralized financial systems—without abandoning regulatory guardrails.
It also highlights the growing role of regulated issuance infrastructure in bridging traditional markets and DeFi. Rather than retrofitting legacy assets onto crypto rails, Superstate is issuing equities natively for onchain use—settled in stablecoins and compatible with programmable markets.
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Momentum Is Building
The Kamino integration follows a rapid expansion of Superstate’s onchain public-market stack.
Just last week, the company announced that SEC-registered issuers can now conduct Direct Issuance Programs on Ethereum and Solana using Superstate’s registered transfer-agent infrastructure. Investors will be able to purchase newly issued shares with stablecoins and receive tokenized equity instantly—while issuer shareholder registries update in real time.
The first of those offerings are expected to go live in 2026.
Together with earlier milestones—such as the launch of Opening Bell, Galaxy Digital’s tokenized shares on Solana, and upcoming Ethereum-based issuances—Superstate is steadily turning public equities into first-class onchain financial instruments.
