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ORCA Orca and Loopscale merged to form Formation, focusing on the tokenized asset market
Orca and Loopscale announced the merger to jointly form a new company, Formation. Under the leadership of CEO Luke Truitt (co-founder of Loopscale), Formation has integrated decentralized trading, lending and treasury infrastructure into a financial services company and is committed to expanding the financing and distribution of tokenized assets.
According to the merger announcement, Formation will combine Orca's liquidity infrastructure with Loopscale's credit services to support asset issuance and financing. The two agreements will continue to operate independently, providing basic support for the ORCA and xORCA token networks. Formation plans to develop integrated services covering asset origination, financing, liquidity management and distribution for issuers and capital allocators. Its target markets include artificial intelligence, energy, robotics and defense, where companies face huge funding needs.
Over US$550 billion in transaction volume and expanding lending services
Since 2021, Orca has processed more than US$550 billion in total transactions, establishing its position in the decentralized liquidity market. At the same time, Loopscale has accumulated more than $150 million in deposits and facilitated more than $2 billion in loans. This data represents Formation's existing infrastructure to develop additional financing and investment services in the blockchain market. The company will also expand its treasury strategy to connect asset issuers, liquidity providers and capital allocators.
Christopher Montagano, Orca's chief strategy and legal officer, pointed out that credit availability and distribution channels are key elements of asset growth. He explained that combining the two platforms would connect asset launches with financing opportunities and broader market access.
Working with Figure, Securitize and R3 to expand distribution of tokenized assets
Formation is working with Figure, Shinhan Asset Management, Superstate, R3 and Securitize to support asset issuance and distribution. These partnerships form part of the company's plan to expand access to tokenized financial products.
Figure Technology Solutions has generated more than US$30 billion in online credit and expanded the scale of tokenized products to more than US$650 million in DeFi. Reid Simon, president of Figure Digital Assets, welcomed the merger, emphasizing the integrated advantages of trading, lending and treasury strategies.
Over the next 12 months, Formation plans to launch issuers 'tools and capital allocation strategies based on existing financial services. Its development plan also includes access to regulated U.S. capital markets. Formation will build on the existing agreement between Orca and Loopscale to develop integrated services for asset issuance, financing and distribution. The company plans to further expand its infrastructure through institutional partnerships, additional investment strategies and access to regulated financial markets.
