SOMA Finance, a decentralized exchange for crypto and tokenized US equities, has announced the upcoming launch of the SOMA token, the first legally issued digital security open to US retail and global investors. SOMA tokens represent preferred stock in SOMA Finance, paying dividends of up to 10% of the company’s profits. The company was founded in 2021 by the decentralized finance protocol MANTRA and Tritaurian Capital, a licensed broker-dealer.
SOMA Finance will be one of the first US companies to tokenize real-world assets (RWA) by facilitating the trading of tokenized US equities, such as Apple or Tesla stock, where holders get full ownership of the underlying assets without dealing with synthetics or derivatives. The company also facilitates capital raising through methods like ‘Mini-IPOs’, crowdfunding, and the sale of securities to non-U.S. entities.
BlackRock CEO Larry Fink has said that “the next generation for markets, the next generation for securities, will be tokenization of securities.” SOMA Finance is the first US-compliant decentralized exchange, offering listings for tokenized securities and security token offerings (STOs). Only $5 million worth of SOMA tokens will be available for sale.
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| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 🇨🇦 |
| Sentiment | positive |
| Relevance Score | 10 |
| People | Larry Fink, William B. Heyn |
| Companies | MANTRA, SEC, Apple, FINRA, Tesla, SOMA Finance, Tritaurian Capital, BlackRock |
| Currencies | US Dollar, NFT Stars, Omax, Ethereum, Bitcoin |
| Securities | Tesla, Apple |
