Tanzeel Akhtar is a seasoned journalist who has been reporting on cryptocurrency and blockchain technology since 2015. Her work has appeared in leading publications including The Wall Street Journal,…
Forward Industries Inc. (NASDAQ: FORD), a Solana-focused treasury company, said it launched an institutional-grade validator node on the Solana blockchain in partnership with DoubleZero, a company that provides network infrastructure optimized for blockchain performance.
The validator, already live on DoubleZero’s infrastructure, is built in collaboration with Galaxy and using Jump Crypto’s Firedancer client. The validator is engineered to enhance speed and scalability across the Solana ecosystem.
Zero-Commission Staking and Network Optimization
Forward’s validator offers 0% commission, allowing Solana holders to delegate stake directly to the company’s node at no cost. All tokens staked by Forward Industries are currently delegated to this validator, and the company plans for all future validators to operate exclusively on DoubleZero’s network.
The collaboration also includes pilot programs focused on revenue optimization, bandwidth expansion, and latency reduction, further strengthening Solana’s position as the blockchain of choice for institutional and enterprise use.
At launch, Forward’s validator is expected to rank among the top ten Solana validators globally, showing a major step in the company’s transformation from a capital allocator to an active ecosystem contributor.
Strengthening Solana’s Institutional Backbone
“Decentralized networks only reach their full potential when the underlying infrastructure meets institutional standards of scale, security, and performance,” said Kyle Samani, Chairman of the Board at Forward Industries.
“By running our validator on DoubleZero and establishing a long-term partnership, we are aligning with the foremost innovators in blockchain infrastructure,” Samani added. “Together with DoubleZero, Galaxy, and Firedancer, we’re fortifying Solana’s resiliency and helping ensure it remains the standard for institutional adoption in decentralized finance.”
Forward Industries Closes $1.65B PIPE to Launch Treasury
In September, Forward Industries announced the successful close of its previously disclosed private investment in public equity (PIPE) financing, raising $1.65 billion before fees and expenses.
The firm said the funding round was led by Galaxy Digital, Jump Crypto, and Multicoin Capital, which together invested more than $300 million.
The company intends to use the proceeds to establish its cryptocurrency treasury operations, with a focus on purchasing SOL, the native token of the Solana blockchain.
Funds will also be allocated to working capital, future transactions, and related expenses as Forward Industries launches its Solana-focused strategy.
Broad Investor Participation and Board Appointments
In addition to Galaxy, Jump, and Multicoin, the PIPE attracted commitments from a wide network of global investment firms, asset managers, and prominent angel investors across the digital asset ecosystem.
The transaction shows institutional interest in Solana and Forward Industries’ role as a publicly traded vehicle for exposure to its growth.
