Nasdaq-listed company OpenWorld is using Sunrise and Backpack Securities to bring its shares to Solana. This move extends the company's tokenization strategy to its publicly traded shares, allowing investors to access the tokenized OPNW.

Issued by Backpack Securities and launched through Sunrise, the tokenized OPNW can now be used within the Solana ecosystem. Investors can trade these tokenized shares 24/7, continuously settle transactions, transfer tokens, and keep their holdings in their own wallets. This launch also includes a redemption pathway that allows the tokenized shares to be connected to traditional brokerage infrastructure.

Wormhole Labs CEO Saeed Badreg stated: "The on-chain market provides listed companies with a powerful new way to reach investors globally. By bringing stocks to Solana, OpenWorld is demonstrating how issuers can gain access to international markets. Sunrise is making all this possible."

Listed companies oppose unauthorized tokenization of stocks

The decision to bring one's own stocks to Solana comes at a time when opposition to the tokenization of stocks of third-party listed companies is continuing to rise. On November 3rd, Apple, Home Depot, and GE Vernova joined the growing list of companies opposed to the tokenization of their stocks.

A few weeks ago, a full-page advertisement in The Wall Street Journal warned listed companies about the risks of unauthorized tokenization of stocks. Subsequently, dozens of companies sought to restrict the tokenization of their securities, sparking discussions regarding the consent of issuers, ownership rights, and how stock representations based on blockchain should operate.

OpenWorld has adopted a different approach by actively supporting the tokenization of its own equity. For a company whose business is centered around helping other enterprises obtain capital through tokenization, bringing OPNW onto the blockchain is an extension of its existing strategy.

OpenWorld, Chief Executive Officer and Chairman, Matthew Shaw stated: "At OpenWorld, we are creating new ways for companies to raise funds through tokenization and to connect with investors. We believe that the same infrastructure can also create meaningful opportunities for shareholders of listed companies. Supporting the launch of OPNW on Solana is a natural step for us and reflects our confidence in the role blockchain will play in the future of capital markets. We are delighted to collaborate with Sunrise and Backpack Securities to achieve this goal by leveraging each other's expertise."

Tokenization of OPNW: How to Connect with Traditional Finance

Backpack Securities is responsible for the infrastructure of issuance, custody, and redemption of OPNW tokens, while Sunrise provides market support for them on Solana. Eligible holders can deposit their tokenized shares in Backpack Securities and redeem them for the corresponding securities rights of OpenWorld stocks. Subsequently, they can transfer these holdings to other brokers. Eligible holdings can also be converted back into tokenized OPNW tokens.

This arrangement supports dividends and corporate actions under both holding modes. For shares held through Backpack Securities, dividends and corporate actions are processed by traditional brokerage infrastructure; however, the on-chain mechanism will reflect the applicable dividends and corporate actions, although the timing and tax handling may differ. OpenWorld is still responsible for the disclosure of its shares and related corporate information.

Backpack CEO Armani Ferrante stated: "When investors are able to switch freely between the blockchain market and traditional finance, tokenized stocks will become even more powerful. At Backpack, we are building the infrastructure that makes this possible, issuing tokenized stocks that can be redeemed 1:1 for traditional brokerage positions. With the support of OPNW on Solana, we are bringing the vision of a unified financial market one step closer to reality."

The RWA market of Solana continues to grow.

With the addition of OpenWorld, the real-world asset segment of Solana continues to expand. The number of holders of RWA on Solana has exceeded 1.8 million, and it has now reached 1.87 million, setting a new historical high. In just October alone, nearly 500,000 new holders were added.

Solana also led the trading volume of tokenized stocks among all blockchains for the second consecutive week, with a weekly trading volume of 977 million US dollars.

As concerns rise about unauthorized tokenization of listed company stocks on public chains, OpenWorld took the initiative to support the tokenization of OPNW after its listing in October, offering an alternative approach. The company views tokenization not only as a way to help enterprises raise funds but also as an opportunity to expand the accessibility of its own equity.