Formation Securities plans Solana stock trading venue under SEC exemption
Summary
Formation Securities plans to launch a Solana-based tokenized stock trading venue in early 2027 under the SEC’s temporary Innovation Exemption. Galaxy Digital, Exodus Movement and Forward Industries shares are expected at launch, with Superstate and Securitize supplying tokenized shares. The venue would use automated market makers for onchain trading and settlement while traditional transfer agents retain official shareholder records. Solana held about $575 million in tokenized stocks, behind Ethereum and BNB Chain. The plan comes amid issuer concerns about unauthorized tokenization; SEC rules require notice and a 30-day waiting period for third-party tokenized shares, allowing companies to object.
