Kyle Samani Backs Solana with $1B to Challenge Wall Street

- Forward Industries' Kyle Samani announces a $1 billion strategy to integrate global capital markets with Solana. - The plan aims to leverage Solana's scalability for equity tokenization, governance, and dividend distribution. Kyle Samani, chairman of Forward Industries, has launched a $1 billion strategy to make Solana the foundational blockchain for global capital markets. On September 30, 2025, Cointelegraph reported on this ambitious initiative. The plan seeks to position Solana as a competitor to both Ethereum and traditional Wall Street infrastructure, enabling activities like equity tokenization, shareholder governance, and dividend distribution to operate on its blockchain. Samani highlighted Solana’s scalability as a key advantage, stating it is the only blockchain currently capable of supporting global financial markets without the scalability limitations seen on Ethereum. This vision aligns with broader industry trends, as the U.S. Securities and Exchange Commission (SEC) is exploring integrating blockchain into traditional systems through initiatives like "Project Crypto," a commission-wide program that seeks to modernize securities regulations for on-chain financial solutions. To support the strategy, Forward Industries has secured $1.65 billion in private placements from key investors, including Multicoin Capital, Jump Crypto, and Galaxy Digital. The company will use these funds to manage a Solana treasury that will acquire SOL tokens and increase their value per share. In addition, Forward Industries will tokenize its equity on the Solana blockchain, demonstrating its commitment to advancing blockchain-based capital market solutions. Samani framed Solana’s potential to rival Wall Street as a unique growth opportunity; however, he also acknowledged challenges, such as navigating volatile market conditions. He noted that new financial products, such as staking features on Solana-based exchange-traded funds (ETFs), are integral to the blockchain’s future. As of September 30 at 17:16 UTC, Solana (SOL) was trading at $205.823. According to CoinMarketCap, this reflects a -1.34% change in its 24-hour trading volume.