Share this article
SOMA Finance to Issue the First Retail Compliant Digital Security
The SOMA token will be a non-cumulative, participating preferred stock of SOMA.finance and will pay a dividend of up to 10% of profits.
Updated Sep 8, 2023, 3:55 p.m. Published Sep 6, 2023, 8:06 a.m.
SOMA Finance, a joint venture between MANTRA and Tritaurian Capital, is planning to offer the first legally issued and compliantly structured digital security to global and U.S. retail investors later this month, the company said in a statement Wednesday.
The company plans to sell up to $5 million in tokens in one or more tranches, with the first tranche priced at $2.50 per token. The token also gives holders benefits, including the right to a dividend of up to 10% of SOMA’s profits. It plans to issue the SOMA token at the end of this month, or by early October.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The SOMA token is also the first regulation crowdfunding (Reg CF) issuance on the SOMA.finance platform, the firm said. SOMA.finance is a multiasset decentralized exchange (DEX) and issuance platform for tokenized equities, digital assets and non-fungible-tokens (NFTs).
A criticism often leveled at the cryptocurrency industry is that crypto tokens don’t represent a financial claim on the equity or debt of the issuer. In the event of bankruptcy or fraud, investors are often left holding tokens that are worthless with little or no recourse to get their money back.
What's unique about the SOMA token is that it will actually represent a financial interest in SOMA at a corporate level, as the token will be a non-cumulative, participating preferred stock of SOMA.finance, the company said.
“We have been working quietly but diligently to develop the necessary technology to launch a revolutionary decentralized marketplace for digital assets, compliant digital securities, and NFTs while liaising with regulators to provide a highly regulated decentralized financial platform,” said William B. Heyn, co-founder and co-CEO, SOMA.finance and CEO of Tritaurian Capital."
Tritaurian Capital is a registered broker-dealer and member of the Financial Industry Reporting Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). It is the first non-alternative trading system (ATS) broker-dealer to be approved for a license to sell digital private placement securities using blockchain technology.
UPDATE (Sept. 6, 08:47 UTC): Adds token's claim on corporate assets in fifth paragraph; removes duplicated paragraph.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
JPMorgan Launches Tokenized Money Market Fund on Ethereum as Wall Street Moves Onchain
The $4 trillion U.S. bank is the latest financial giant in rolling out tokenized MMF onchain, joining BlackRock, Franklin Templeton and Fidelity.
What to know:
- JPMorgan Chase is launching its first tokenized money-market fund on Ethereum dubbed My OnChain Net Yield Fund (MONY), with an initial $100 million investment.
- The fund is part of a growing trend of blockchain-based financial products, with major firms like BlackRock and Franklin Templeton also entering the space.
- MONY allows investors to redeem shares using cash or USDC and aims to offer similar benefits to traditional money-market funds with added blockchain advantages.
Top Stories
