- Formation targets an early 2027 start for its Solana trading venue.
- Initial shares are expected to include EXOD, FWDI and GLXY.
- The SEC exemption is conditional; filing an intent notice is not approval.
Formation Securities plans to offer tokenized stocks on Solana through a new venue, with trading targeted for early 2027. The company says its first listings may include Exodus Movement, Forward Industries and Galaxy Digital. It has notified the SEC of its intent to operate under the regulator’s temporary, conditional Innovation Exemption. The proposed venue would let verified investors trade eligible shares around the clock.
Tokenized Stocks on Solana Could Begin Trading in 2027
The launch roster pairs three companies with the Solana-based trading plan: Exodus (EXOD), Forward Industries (FWDI) and Galaxy Digital (GLXY). Formation says tokenized stocks on Solana will carry the same voting and dividend rights as traditional shares. Orders would meet through permissioned automated market maker pools, with atomic settlement onchain using stablecoins and other eligible assets.
Investors are expected to use Formation’s platform and distribution partners. These include Alpaca, Passage by CoinList, and custodians such as Anchorage, BitGo and Fireblocks. Superstate and Securitize are expected to make shares available. Formation also licenses trading technology from Solana DEX Orca.
Formation chose Solana for speed and low fees. It also cited the network’s more than $5 billion in tokenized real-world assets. The company says it will work with issuers, after 67 companies objected to third-party tokenized trading on OKXICE. The venue is not operating yet.
SEC Conditions Govern Tokenized Stocks on Solana Trading
Those conditions shape how tokenized stocks on Solana may reach investors. The SEC’s September order provides temporary, conditional relief for qualifying venues using permissioned liquidity pools. It requires traded tokens to preserve conventional shareholder rights. It also limits listings and trading volumes and requires public disclosures.
If a third party tokenizes a stock, the venue must notify the issuer and give it a chance to object. Formation has submitted an intent notice, but filing does not mean the SEC has approved the venue. Operators must meet the exemption’s conditions before trading starts. Formation named Predicate, Sec3, Solidus Labs and TRM Labs as service providers.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
