Formation Securities Notifies SEC of Intent to Launch Tokenized Securities Venue on Solana
Formation Securities LLC has formally notified the U.S. Securities and Exchange Commission (SEC) of its plan to operate a tokenized securities venue (TSV) built on the Solana blockchain. Operating under the SEC's Innovation Exemption, the platform aims to facilitate 24/7 secondary trading of eligible tokenized stocks through permissioned automated market maker (AMM) liquidity pools. The venue is designed to provide investors with the same voting and dividend rights as traditional shares while offering faster, atomic onchain settlement. The launch, expected in early 2027, anticipates featuring tokenized shares from Exodus Movement, Inc. (EXOD), Forward Industries, Inc. (FWDI), and Galaxy Digital Inc. (GLXY). Key industry players including Securitize and Superstate are slated to provide assets for the venue. Access will be restricted to verified investors through various distribution channels such as Alpaca, CoinList, and several institutional custodians.