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
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
