newsfilter
← Latest News
PR Newswire·

Formation Securities Notifies SEC of Intent to Operate First Tokenized Securities Venue on Solana

  • Formation Securities LLC notified the SEC of its intent to operate a tokenized securities venue (TSV) on the Solana blockchain under the SEC's Innovation Exemption.
  • The platform combines self-custody with 24/7 trading while preserving voting, dividend, & other rights equivalent to traditional U.S.-listed shares.
  • Trading is scheduled to commence in early 2027 using permissioned automated market maker (AMM) liquidity pools licensed from Orca.
  • Initial launch shares include Exodus Movement, Inc. (EXOD), Forward Industries, Inc. (FWDI), & Galaxy Digital Inc. (GLXY) via tokenizers Superstate & Securitize.
  • Verified investors will access the venue through distribution channels like Alpaca, Passage by CoinList, & custodians including Anchorage Digital Bank, BitGo, & Fireblocks.
  • Trades settle atomically onchain to reduce settlement risk & provide immediate capital access against stablecoins & other eligible assets.
  • The venue operates under SEC Innovation Exemption conditions, including limits on listed securities, trading volume, mandated disclosures, & customer diligence.
  • Formation Securities selected Solana for its speed, low costs, & ability to support permissioning & transfer restrictions for tokenized assets.
  • The initiative builds on Project Open, a proposal submitted in April 2025 that facilitated the SEC's Innovation Exemption released in September 2026.
  • Launch service providers include Predicate, Sec3, Solidus Labs, & TRM Labs, with Christopher Montagano serving as president of Formation Securities.
Company
Formation Securities LLC
Keywords
Formation Securities LLC