Formation Securities has notified the U.S. SEC of plans to operate a tokenized securities trading venue on Solana

Odaily reports: Formation, formed through the merger of Solana ecosystem DEX Orca and Loopscale, announced that its subsidiary Formation Securities has notified the U.S. Securities and Exchange Commission of plans to operate a tokenized securities trading venue on Solana under the SEC's "innovation exemption." The platform plans to conduct secondary trading of eligible tokenized stocks through permissioned automated market maker liquidity pools, with the goal of beginning trading in early 2027. The first batch is expected to list tokenized stocks of Exodus Movement, Forward Industries, and Galaxy Digital; holders will enjoy the same voting rights and dividend rights as other shareholders, be able to trade around the clock using assets such as stablecoins, and settle atomically on-chain.