Formation Securities aims to launch a Solana-based tokenized stock venue in early 2027, featuring shares from Galaxy Digital, Exodus Movement, and Forward Industries under the SEC's temporary Innovation Exemption.
A new SEC Innovation Exemption venue for 24/7 tokenized US stock trading will launch on Solana in early 2027, potentially growing onchain equity activity on the network. Solana already holds about $575 million in tokenized stock, second only to Ethereum's $747 million. The benefit is real but distant and incremental, limiting near-term price effect.
Galaxy Digital shares are among the first expected to trade as tokenized versions on the new Solana venue from early 2027, adding 24/7 trading while retaining voting and dividend rights. This could broaden liquidity and accessibility, but the launch is far off and dependent on SEC exemption conditions and issuer cooperation.
Exodus Movement is named as one of three issuers whose shares should be tokenized and tradable 24/7 on the planned Solana venue at launch in early 2027, with voting and dividend rights preserved. This may widen trading access for holders, though timing is distant and the exemption is temporary.
Forward Industries is named as a launch issuer for tokenized shares on the Solana-based venue planned for early 2027, which would allow round-the-clock trading with shareholder rights preserved. Given the company's association with Solana, the tie-in is thematically fitting, but the distant launch and issuer-objection rules temper the immediate impact.
Formation Securities has notified the SEC of plans to launch a Solana-based venue for 24/7 trading of tokenized US stocks by early 2027. The platform will feature shares from Galaxy Digital, Exodus Movement, and Forward Industries, operating under the SEC's temporary Innovation Exemption to allow round-the-clock trading while preserving shareholder rights.
Only indirectly. The venue is planned for early 2027, so the effect on SOL is gradual rather than immediate, though it strengthens Solana's position in tokenized stocks, where it holds about $575 million already.
Companies can object to their shares being tokenized by third parties, and the SEC's temporary Innovation Exemption imposes a 30-day notice period, giving issuers a chance to block or delay listings.
No. The article only describes how its shares could be traded as tokenized versions around the clock from early 2027; it reports no change to the company's business or results.
Not yet. The venue is only proposed, with the SEC notified and a launch targeted for early 2027 under the temporary Innovation Exemption.
Formation Securities said tokenized shares of Galaxy Digital, Exodus Movement and Forward Industries are expected to be available at launch of its Solana venue in early 2027, developed in cooperation with the public companies themselves.