Blockchain firm Sonic Labs has passed a governance proposal with a near-unanimous vote of 99.98% to fund its expansion into the U.S. capital markets. The proposal, titled “U.S. Expansion and TradFi Adoption,” authorizes the issuance of $150 million worth of its native S token.
The company’s plan is multifaceted:
- $50 million will be allocated to a partnership with an ETF provider to launch a regulated ETF that tracks the S token. This money will be used for seeding liquidity and funding operations.
- $100 million is earmarked for a Nasdaq PIPE (private investment in public equity), which will create a strategic reserve. This reserve will be used to buy S tokens on the open market and over-the-counter, with the goal of increasing the token’s presence and credibility in traditional finance.
To support this initiative, Sonic Labs is also creating a new U.S. entity named Sonic USA LLC and hiring a new team to focus on regulatory compliance and partnerships in Washington D.C. Additionally, the company will issue another 150 million S tokens to fund the operations of this new U.S. entity. The S tokens issued for the Nasdaq PIPE will be locked for a minimum of three years.
The proposal was a direct response to what the company calls a “continuous increase of institutional demand” from the U.S. for its S token. This move follows Sonic Labs’ rebrand from the Fantom Foundation in August 2024.
September 2025, Cryptoniteuae
