Forward Industries has significantly expanded its Solana treasury, adding approximately 226,000 SOL since the end of September through a combination of token purchases and staking rewards. The company now holds about 8.7 million SOL, valued at roughly $726.5 million, representing around 1.5% of Solana’s total circulating supply. According to Tuesday’s update, Forward Industries leads all publicly listed companies in Solana treasury holdings, while DeFi Development Corp. ranks second with just over 2.6 million SOL.
In addition to the treasury expansion, Forward Industries secured a $50 million credit facility from an unnamed U.S. national bank. The two-year facility is backed by SOL, and the collateral will remain staked, allowing the company to continue earning staking rewards. Separately, Forward Industries committed up to $50 million to USHP, a tokenized product that tracks U.S. home prices.
Despite the accumulation, Solana price weakness toward $80 has raised fresh collateral concerns, as the value of the staked SOL backing the credit line could come under pressure if the token continues to decline.
