Formation Securities Secures Orca Trading Technology License, Tokenized Stock Platform to Launch Trading in Early 2027

Odaily reports: Formation Securities has secured a license for Orca's trading technology, with its tokenized stock platform set to begin trading in early 2027.

Formation Securities has obtained authorization from Solana ecosystem exchange Orca to use its trading technology. The company plans to operate a tokenized securities trading venue on Solana under the U.S. Securities and Exchange Commission (SEC)'s "innovation exemption," with trading expected to commence in early 2027. The first batch is expected to include tokenized stocks of Exodus Movement, Forward Industries, and Galaxy Digital.

The platform will be open to verified investors and will support 24/7 trading and near-instant atomic settlement. Eligible tokens must carry the same voting rights and dividend rights as traditional stocks; official shareholder records will still be maintained by the company's transfer agent, and each transaction will be recorded in real time on a public ledger.

Securitize and Superstate are expected to provide the tokenized stocks. Securitize CEO Carlos Domingo stated that its tokens are each backed by one real share held by a broker-dealer. Investors can access the platform through Formation, as well as channels including Alpaca, CoinList's Passage, Anchorage, BitGo, Fireblocks, Solflare, and Squads. (Decrypt)