Shirkadda Formation Securities ayaa 9-kii November 2026 ku dhawaaqday inay u sheegtay guddiga suuqyada iyo saamiyada Maraykanka (SEC) qorshaheeda ah inay ka hawlgeliso shabakadda Solana goobtii ugu horreysay ee lagu kala iibsado saamiyo token ah (tokenized stocks), iyadoo la raacayo nidaamka cusub ee SEC loo yaqaan “innovation exemption”. Sida ay qortay The Block, ganacsiga waxaa la filayaa inuu bilaabmo horraanta 2027.
Maxaa dhacay?
Formation Securities waa shirkad ku xiran Orca, oo ah DEX caan ah oo ku dhisan Solana. Madaxweynaha shirkadda, Christopher Montagano, oo hore u ahaa sarkaalka sharciga ee Orca, ayaa sheegay in goobtan ay noqon doonto mid ay saamiyada token-ka ah lagu kala iibsado iyadoo la isticmaalayo automated market maker (AMM), taas oo ah barkado lacageed halkii laga isticmaali lahaa buugga dalabaadka ee suuqyada caadiga ah.
Shirkadaha ugu horreeya ee saamiyadooda lagu iibin doono waa Galaxy Digital (GLXY), Exodus Movement (EXOD) iyo Forward Industries (FWDI). Saddexdan shirkadood ayaa horay u oggolaaday mashruuca. Maalgeliyeyaasha la xaqiijiyay ayaa saamiyada ku hayn kara wallets-kooda, kuna kala iibsan kara 24 saac maalintii iyagoo adeegsanaya stablecoin, iyadoo heshiiska si degdeg ah onchain loogu dhammaynayo.
Nidaamka SEC iyo xuquuqda saamilayda
Nidaamkan shanta sano ah ee SEC wuxuu oggolaanayaa goobaha u qalma inay ka ganacsadaan saamiyada Maraykanka ee token-ka laga dhigay, laakiin waxaa jira xaddidaad: kaliya maalgeliyeyaal la xaqiijiyay ayaa ka qayb geli kara, waxaana xad loo yeelay mugga ganacsiga iyo tirada saamiyada. Shirkadaha dadweynaha ayaa haysta 30 maalmood oo ay ku diidi karaan in saamiyadooda la token-gareeyo haddii qolo saddexaad ay samayso.
Sida ay sheegtay CoinDesk, saamiyada token-ka ah waxay leeyihiin xuquuq la mid ah saamiyada caadiga ah, sida codbixinta iyo saamiga faa’iidada (dividends). Formation waa shirkaddii afraad ee ku dhawaaqda goob noocan ah, kadib OKXICE (iskaashiga OKX iyo ICE), TSV LLC iyo Perpetuals.com.
Maxay tani u muhiim tahay?
Suuqa saamiyada token-ka ah wuxuu gaaray qiyaastii $3.8 bilyan, Solana-na waxay ku jirtaa kaalinta saddexaad oo ku dhow $570 milyan, kadib Ethereum iyo BNB Chain. Toddobaadkii la soo dhaafay, in ka badan $7 bilyan oo ganacsi saamiyo token ah ayaa ka dhacay Solana, inkasta oo qayb weyn ay ahaayeen token-no synthetic ah oo aan lahayn xuquuqda saamilayda dhabta ah.
Shirkaddu waxay la shaqaynaysaa Superstate iyo Securitize oo bixin doona saamiyada, iyo Anchorage, BitGo iyo Fireblocks oo haynta hantida (custody) qaban doona.
Saamaynta suuqa
Caqabad weyn ayaa weli jirta: OKXICE ayaa ogaatay in qiyaastii 90% shirkadihii ay doorteen, oo ay ku jiraan Apple, Microsoft iyo Meta, ay diideen in saamiyadooda halkaas lagu kala iibsado. Sidaas darteed, guusha Formation waxay ku xiran tahay inay shirkado badan qanciso. Montagano ayaa sheegay in saamiyada token-ka ah ay guulaysan doonaan kaliya haddii shirkadaha dadweynaha ay qiimo ku arkaan. Shirkaddu waxay qorshaynaysaa inay laba bilood ee soo socda la xiriirto shirkado kale si liiska loo ballaariyo.