Upexi, a Nasdaq-listed company, has announced plans to tokenize its shares on the Solana blockchain through the Opening Bell platform.
Upexi's Share Tokenization Plan
On June 26, Upexi announced its intent to bring its stock on-chain via the Opening Bell platform developed by fintech company Superstate. This move aims to offer 24/7 trading, real-time settlement, and expanded investor access through crypto-native wallets.
Current Financial Status of the Company
Currently, Upexi holds 735,692 SOL, which represents an 8% increase since May. At current prices, these holdings are worth about $105 million.
Analysts' Opinion on Upexi's Strategy
Despite recent volatility in the stock, analysts support Upexi's strategic shift. Cantor Fitzgerald initiated coverage in June with an 'overweight' rating and a target price of $16, noting Solana's growing network activity and its appeal as a treasury asset.
Upexi's move to tokenize shares on the Solana blockchain marks an important step for the company in leveraging decentralized finance benefits and expanding its treasury strategies.
