Exodus has announced the expansion of its tokenized stock offerings on the Solana blockchain through a new partnership with Superstate.
Partnership with Superstate
Exodus is partnering with Superstate to issue its Class A shares on the Solana blockchain via the 'Opening Bell' platform. Superstate, founded by Robert Leshner, offers a bridge between shares of public companies and blockchain technology under U.S. securities laws.
Exodus's Expanding Capabilities
Exodus aims to make its tokenized shares more accessible to crypto investors by listing on Solana. Low transaction fees and fast processing times on Solana are critical for this initiative. Exodus previously became the first U.S. public company to tokenize its shares on the Algorand blockchain in 2021.
Technical Indicators for SOL
The current price of the SOL token is $177, which is above the 50-period EMA level of $170.64. The relative strength index indicates that the asset is not overbought, maintaining a level of trading activity. Since dropping below $150 at the end of July, SOL has rebounded more than 17%.
The partnership between Exodus and Superstate highlights steps towards integrating tokenization into traditional financial markets, indicating a growing interest in such initiatives.
