Formation Securities notified the U.S. Securities and Exchange Commission of plans to launch a tokenized securities venue on Solana in early 2027. The launch remains subject to regulatory requirements. The planned venue would let verified investors trade tokenized shares around the clock, with transactions designed to settle onchain while transfer agents maintain official ownership records.
Formation expects to initially support shares of Exodus Movement, Forward Industries and Galaxy Digital, with Superstate and Securitize supplying tokenized securities and Orca providing trading technology. The platform intends to operate under the SEC’s Innovation Exemption, subject to its conditions. Formation’s plan to work with issuers contrasts with rival OKXICE’s proposal, which the source says has drawn objections from 67 companies.
