Formation Securities Licensed by Orca for Trading Technology; Tokenized Stock Platform to Launch in Early 2027 Formation Securities has been licensed by Orca to use its trading technology, and its tokenized stock platform is expected to launch in early 2027. Formation Securities has been licensed by the Solana ecosystem exchange Orca to use its trading technology and plans to operate a tokenized securities trading venue on Solana under the U.S. Securities and Exchange Commission's (SEC) "Innovation Exemption," with trading expected to launch in early 2027. The initial offerings are expected to include tokenized stocks of Exodus Movement, Forward Industries, and Galaxy Digital. The platform is open to verified investors and supports 24/7 trading and near-instantaneous atomic settlement. Eligible tokens must have 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 the public ledger. Securitize and Superstate are also expected to offer tokenized stocks. Securitize CEO Carlos Domingo stated that each of its tokens is backed by one real stock held by a broker-dealer. Investors can access the platform through Formation, as well as through Alpaca, CoinList's Passage, Anchorage, BitGo, Fireblocks, Solflare, and Squads. (Decrypt)