Solana Set for Another Tokenized Stock Venue as Formation Notifies the SEC

Formation Securities has told the SEC it plans to operate a venue for trading tokenised US stocks on Solana, using the agency’s conditional “Innovation Exemption”. The move could bring more traditional shares onto blockchain while retaining investor rights, as firms compete to build regulated markets for tokenised securities.

Trading is expected to start in early 2027, with shares in Exodus Movement, Forward Industries and Galaxy Digital anticipated at launch. Eligible tokens must carry the same voting and dividend rights as ordinary shares; trades would settle onchain, while transfer agents maintain official ownership records. Access will be restricted to verified investors, and the effort joins other planned tokenised-stock venues, including projects involving the NYSE, Avalanche and OKX-ICE.