Key insights
- Formation Securities plans to launch a tokenized securities venue on Solana in early 2027 under the SEC Innovation Exemption.
- Exodus, Forward Industries, and Galaxy Digital are expected to offer tokenized shares at launch.
- Solana crypto venue will support 24/7 trading, onchain settlement, and shareholder voting and dividend rights.
Solana news took a new turn after Formation Securities told the SEC it plans to run a tokenized securities venue on Solana crypto. The venue is expected to open in early 2027, with three public companies lined up to offer tokenized shares at launch. The plan still needs SEC clearance before trading starts.
Solana News Puts Issuer Approval Before Listings
Formation Securities told the United States Securities and Exchange Commission that it intends to operate a tokenized securities venue on Solana. Trading is expected to begin in early 2027 under the SEC’s Innovation Exemption. The Solana news puts issuer approval before listings.
Exodus, Forward Industries and Galaxy Digital are expected to be listed at launch. Exodus provides a self-custody wallet, Forward Industries is a Solana treasury company, and Galaxy Digital is a crypto investment firm. Their shares are expected to be tokenized through Superstate and Securitize.
The plan differs from an effort by OKXICE, a joint venture between crypto exchange OKX and New York Stock Exchange parent Intercontinental Exchange. Dozens of companies have objected to that proposal, which gave firms 30 days to oppose tokenization. Formation is asking for consent before listings go ahead.
Formation President Chris Montagano said the company wants to build the market with issuers. He said legal teams may be cautious because tokenization is new to many companies. Concerns include illegal activity and asset security, especially after hacks and scandals in the crypto sector. Formation is also speaking with other public companies and ETF issuers.
Solana crypto users are expected to access a venue offering United States-listed shares with the same voting and dividend rights as the original stocks. Trades are expected to settle onchain and remain available around the clock.
How the Solana News Venue Will Handle Tokenized Shares
The venue will use automated market maker technology from Orca, a platform in the Solana crypto ecosystem. Formation emerged from the merger of Orca and Loopscale, two Solana crypto firms. Its service will focus on tokenized securities.
Investors are expected to trade shares 24 hours a day, hold them in self-custody, and settle transactions onchain. The tokens are meant to carry the rights attached to the original shares, including voting and dividends.
Securitize Chairman and Chief Executive Carlos Domingo said the company would bring its tokenized stocks to the venue. He said its Convertible Entitlement Tokens are backed by real shares held by its broker-dealer. Each token carries the same rights as the share behind it and is held only by verified investors.
Notably, other partners include Superstate, Anchorage Digital, BitGo and Fireblocks. The project follows the launch of TSV LLC, which began trading tokenized shares of Canton Strategic Holdings on the Canton Network last week. It was the first venue to execute such trades under the SEC exemption, according to the report.
Issuer Support Could Shape Solana Crypto Trading
Company support could decide how far tokenized stocks spread. Some firms have raised concerns about investor protection, control, and shareholder records. Formation believes seeking consent first can help address these questions.
All three launch companies are linked to crypto, which may make them more familiar with blockchain shares. Montagano hopes the model will attract traditional businesses as talks with potential issuers continue.
Solana crypto seeks a stronger role in financial products built on blockchain networks. Round-the-clock trading and onchain settlement are part of the offer, but issuers will also want clear rules on ownership, custody, and shareholder rights.
Per the Solana news, Formation expects trading to begin in early 2027, but it is still seeking issuer consent. The final list will depend on which companies agree to take part and the SEC process in the coming months. The plan gives Solana another proposed use in traditional markets, though its progress will depend on winning more issuers.
