Formation projeta bolsa tokenizada na Solana para o início de 2027

A Formation notified the SEC the creation of another venue for tokenized equities, according to coverage from Decrypt, Unchained and CryptoPotato. Operating under the SEC’s “Innovation Exemption,” the planned market would initially list tokenized shares of Exodus, Forward Industries and Galaxy Digital in early 2027. Decrypt reports that these digital representations would carry the same voting and dividend rights as the corresponding conventional stocks.

The proposal places Solana at the center of the venue’s structure, while the securities themselves may be sourced from more than one blockchain. Unchained reports that the blockchain will record and settle trades on behalf of an as-yet unnamed clearing firm. A statement from NYSE’s Dennis Lee in the same release said that listed equities can originate from several chains, expanding the infrastructure options beyond the network used for the initial listings.

The clearest point of divergence concerns the role assigned to Avalanche. CryptoPotato reports that NYSE selected Avalanche for all settlement, even though the tokenized stocks can still be listed across a range of blockchains. Unchained describes the recordkeeping and settlement function in broader terms and identifies the clearing firm as unnamed. The outlet coverage therefore agrees on the multi-chain treatment of the securities but differs in how explicitly it presents Avalanche as the exclusive settlement layer.

The entities named for the first listings already have measurable on-chain footprints. DeFiLlama data show Forward Industries with $273.11 million in total value locked, up 2.5% over seven days, and Galaxy Digital with $116.77 million, up 0.1% over the same period. Avalanche itself has $135.15 million in TVL, down 1.7% over seven days. No comparable TVL figure was supplied for Exodus, and the verified data do not convert the proposed tokenized shares into a valuation for the new venue.

Live market conditions are mixed across the networks relevant to the plan. Solana’s SOL trades at $86.58, down 3.09% over 24 hours and 6.09% over seven days, with a $51.18 billion market capitalization. Avalanche’s AVAX is $8.55, up 4.41% over 24 hours and 2.11% over seven days, with a $3.81 billion capitalization. The total crypto market stands at $2.56 trillion and is broadly lower, while Bitcoin is down 1.56% over 24 hours and the Fear & Greed index is 29, indicating fear. The proposed launch, the identities of the clearing firm and the precise settlement setup remain the main implementation details to watch before the planned early-2027 listings.