Solana Set for Another Tokenized Stock Venue as Formation Notifies the SEC
Summary
Formation Securities notified the SEC that it plans to operate a tokenized-stock trading venue on Solana under the agency’s Innovation Exemption. Trading is expected to start in early 2027, initially featuring shares of Exodus Movement, Forward Industries and Galaxy Digital. The permissioned venue will serve verified investors and offer onchain settlement while preserving shareholder voting and dividend rights; transfer agents will retain official ownership records. Securitize and Superstate are expected to provide the tokens, with access through platforms, custodians and wallet providers. The proposal joins a growing competition to bring U.S. equities onchain, alongside projects involving the NYSE, Securitize and OKX-ICE.
