The Register · tokenized FWDI
What a tokenized FWDI holder owns
2 tokens issued by 2 programs track Forward Industries, Inc., and each gives the holder something different. Ketju has a file on 2 of them; each row below links to the file, which quotes the issuer.
What the holder owns
One version on file gives the holder the Forward Industries, Inc. share itself: Superstate Opening Bell. One version is a note or swap that pays like the share and carries no rights in it: rTokens.
Who may hold it
One version on file is offered to US persons: Superstate Opening Bell. The other 1 on file is not.
Who can freeze it
In 1 of the 2 programs with a readable contract, one private key can freeze, pause, or claw back holders’ tokens, or grant that power: Superstate Opening Bell.
Every version, side by side
| Version | What the holder has | Control | ||||
|---|---|---|---|---|---|---|
| Token | Program | Owns | Who may hold | Redemption | Freeze key held by | Market cap |
| RFWDI | rTokens | Third-party synthetic | Not offered to US persons | Redeem with the issuer in its window | Ketju found a freeze power but not who holds it | $49K |
| FWDI | Superstate Opening Bell | Issuer direct | US retail investors | Redeem in kind | A single key | None stated |
Market cap is CoinGecko’s figure on 2026-09-24, for the token itself and not for the share it tracks. The “Freeze key held by” column shows the weakest key that can freeze, pause, or claw back a holder, or grant that power, as Ketju read it from the chain.
Kinds of claim
- Third-party synthetic
- A note or swap that pays like the security and carries no rights in it. rTokens.
- Issuer direct
- The on-chain record is the securityholder file; the holder is the registered owner. Superstate Opening Bell.