Upexi announces stock tokenization plan with SOL market capitalization exceeding 100 million USD

[Bitpush] Consumer goods company and Solana asset accumulator Upexi (stock code: UPXI) announced plans to tokenize its company stock through the Opening Bell platform under Superstate. Opening Bell is a tokenized asset management platform registered with the SEC in the United States, allowing companies to directly issue public stock on-chain.

Upexi's stock is currently publicly traded on the Nasdaq stock exchange. According to the company's announcement, by tokenizing its public equity, Upexi aims to provide investors with round-the-clock trading and settlement, enhanced liquidity, expanded investor access, and compatibility with decentralized finance (DeFi) tools.

Upexi also disclosed that as of June 24, it holds 735,692 SOL, valued at approximately $105 million based on current prices, up from 679,677 SOL disclosed on May 28. Upexi began accumulating Solana in April this year, having previously secured a $100 million public equity private investment in public equity (PIPE) deal led by crypto trading and investment firm GSR. At that time, Upexi stated that it planned not only to purchase SOL but also to stake its holdings of SOL, similar to the strategies of other listed companies such as DeFi Development Corporation and SOL Strategies, to establish an SOL-centered financial strategy.