Formation plans first tokenized stock venue on Solana, with launch set for early 2027

Formation has notified the US Securities and Exchange Commission that it plans to run a tokenized securities venue on the Solana blockchain, The Block reports. The venue would be the first of its kind under the SEC's current framework. Tokenized shares are stock rights represented as digital tokens on a blockchain. The launch is expected in early 2027.

The initial offerings named in the reports include tokenized shares of Exodus Movement, Forward Industries and Galaxy Digital. CoinDesk names the same three companies and says the plan is part of the regulator's wider experiment with blockchain-based stock trading. Both outlets agree on the core facts, and neither report contradicts the other.

The plan affects investors who are interested in tokenized shares, and the companies whose stock would be listed. It does not change anything for people who use smart-home, solar or EV products today.

The material we have does not say how the venue will charge fees, when it will trade, who will be able to buy, or which countries it will cover. Those details, and any change to the launch date, are still unknown.