Formation Plans Solana Tokenized Stock Venue Under SEC…
By Abdelaziz Fathi
AI summary of the source article
Formation Securities has notified the SEC of its plan to launch a tokenized stock trading venue on Solana in early 2027. Operating under the SEC's Innovation Exemption, the platform plans to offer tokenized shares of Exodus Movement, Forward Industries, and Galaxy Digital.
Why it matters
Direct issuer cooperation matters because "the SEC framework allows issuers to object to certain third-party tokenization arrangements" and working with them "could reduce that friction and provide greater certainty around shareholder rights."
Key facts
- Formation Securities notified the SEC of plans to launch a tokenized stock venue on Solana targeting early 2027.
- The venue will operate under the SEC's September 17 Innovation Exemption providing temporary, conditional relief for tokenized stock trading via permissioned AMM pools.
- Initial planned offerings include Exodus Movement, Forward Industries, and Galaxy Digital, supported by custodians Anchorage and BitGo Bank.
Source excerpt · FinanceFeeds
Formation Securities has notified the U.S. Securities and Exchange Commission (SEC) of its intention to operate a tokenized stock trading venue on Solana, targeting an early 2027 launch with shares of Exodus Movement, Forward Industries and Galaxy Digital among its initial offerings. The proposed platform will operate under the SEC's September 17 Innovation Exemption, which provides temporary, con…