Formation Securities will launch a Solana-based tokenized stock venue in early 2027, featuring initial listings from Galaxy Digital, Exodus Movement, and Forward Industries under an SEC innovation exemption.
Solana will host the first SEC-sanctioned tokenized stock venue under the innovation exemption, with trading expected from early 2027 and Galaxy, Exodus and Forward Industries already committed. This gives SOL a regulated onchain equities niche on top of its leading tokenized-stock activity ($570 million of a $3.8 billion market, over $7 billion traded last week). Trading only starts in 2027, so the price effect is anticipatory rather than immediate.
Galaxy is among the first three issuers committed to listing tokenized shares on Formation's SEC-sanctioned venue, and its shares are already tokenized on Superstate's Opening Bell platform. This adds a regulated distribution channel, but trading starts only in early 2027 and volume limits cap near-term significance, so the effect is modest.
Exodus, a digital asset wallet provider, is named among the first three issuers on Formation's tokenized stock venue, having earlier issued tokenized shares through Securitize. Participation signals continued tokenization strategy and a new distribution channel, but the venue only launches in early 2027 with volume limits.
Forward Industries, described as a Solana treasury firm, is in the initial lineup of three issuers on Formation's tokenized stock venue, with its shares already tokenized on Superstate's Opening Bell. This adds a regulated trading channel but the launch is only in early 2027 and the framework caps volumes.
Formation Securities has announced plans to operate the first Solana-based tokenized stock marketplace under the SEC's innovation exemption. The platform, scheduled to launch in early 2027, will feature tokenized shares from Galaxy Digital, Exodus Movement, and Forward Industries, utilizing technology licensed from the decentralized exchange Orca.
It makes Solana the first chain to host an SEC-sanctioned tokenized U.S. stock marketplace under the innovation exemption, adding a regulated use case on top of its existing lead in tokenized stock trading activity.
Formation Securities expects trading to begin in early 2027, so any benefit for Solana is still ahead rather than immediate.
Galaxy is one of the first three companies whose tokenized shares will trade on Formation Securities' Solana-based venue, alongside Exodus and Forward Industries.
Exodus was among the first companies to issue shares in tokenized form through Securitize and has now committed to list its tokenized shares on Formation's Solana-based venue.
Tokenized FWDI shares would carry the same shareholder rights as traditional stocks, including voting and dividends, and could trade around the clock using stablecoins once the venue launches in early 2027.