Formation Securities Proposes 24/7 Tokenized Stock Trading on Solana via SEC Exemption
New York-based Formation Securities has notified the SEC of its plan to launch a tokenized securities trading venue on the Solana blockchain, aiming for an early 2027 launch. Utilizing the SEC’s 'Innovation Exemption,' the platform intends to offer round-the-clock trading by issuing company shares as digital tokens that retain standard shareholder rights like voting and dividends. The initiative seeks to solve traditional market limitations such as weekend closures and settlement delays through instant on-chain payment and delivery. Formation plans to initially list tokenized shares for Exodus Movement (EXOD), Forward Industries (FWDI), and Galaxy Digital (GLXY), with Superstate and Securitize acting as the primary providers of these digital assets.
Tickers: $EXOD $FORD $GLXY $HSDT $SECZ $SOL
Topics: SEC Notification Solana Blockchain Stock Market Trading Hours Tokenized Securities
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Part of the story Formation Securities Notifies SEC of Intent to Launch Tokenized Securities Venue on Solana (3 articles)