Forward Industries Partners with Sanctum to Launch fwdSOL Liquid Staking Token

Core Insights - Forward Industries has announced a strategic partnership with Sanctum to launch fwdSOL, a new liquid staking token (LST) that will allow the company to generate staking yield on SOL while exploring additional returns through DeFi and institutional borrowing strategies [1][2]. Group 1: Partnership and Token Launch - The partnership will see Forward Industries delegate approximately 1,725,100 SOL to Sanctum, representing 25% of the company's SOL holdings, which will be converted into fwdSOL [2]. - By utilizing fwdSOL, Forward Industries aims to earn native staking yield while also deploying the token across various on-chain opportunities to enhance performance, including using it as collateral for borrowing assets [2][4]. Group 2: Strategic Goals and Statements - Kyle Samani, Chairman of Forward Industries, emphasized that this initiative reflects the company's commitment to maximizing the potential of its SOL holdings and enhancing capital deployment efficiency [4]. - FP Lee, Co-Founder & CEO of Sanctum, noted that Forward Industries' approach to treasury management exemplifies how liquid staking can facilitate more sophisticated on-chain strategies while maintaining liquidity [4]. Group 3: Company Background and Future Plans - Forward Industries has been active in developing a Solana treasury strategy since September 2025, focusing on acquiring SOL and increasing SOL-per-share through tailored strategies and active treasury management [5]. - The company is supported by prominent investors and partners, including Galaxy Digital, Jump Crypto, and Multicoin Capital, which enhances its strategic positioning in the digital asset economy [5].