Formation plans 24/7 stock trading on Solana under SEC rules

Formation Securities has notified the US Securities and Exchange Commission (SEC) of plans to launch a Solana-based trading platform for tokenized stocks in early 2027, with shares of Exodus Movement, Forward Industries and Galaxy Digital expected among its first offerings. Summary Formation Securities plans to launch a Solana-based tokenized stock trading venue in early 2027. Exodus Movement, Forward Industries and Galaxy Digital are expected among the first available securities. Verified investors could trade eligible tokenized shares around the clock using stablecoins and digital wallets. The SEC’s Innovation Exemption permits conditional tokenized stock trading but does not guarantee venue approval. According to the company’s Nov. 9 announcement, the proposed platform will operate under the SEC’s Innovation Exemption, which permits certain tokenized securities to trade through approved arrangements without requiring the operator to register as a traditional securities exchange. The venue would allow verified investors to buy and sell eligible US-listed shares around the clock using stablecoins and other permitted assets. Formation has not started trading, and its proposed launc...