Orca and Loopscale Announce Merger to Launch On-Chain Capital Platform Formation

On October 8, Formation officially announced that Orca and Loopscale have formally merged. The resulting entity will be named Formation, headquartered in New York, with Loopscale co-founder Luke Truitt serving as CEO, Mary Gooneratne as Chief Operating Officer, and Christopher Montagano as Chief Strategy and Legal Officer.

Formation will integrate Orca’s trading and liquidity infrastructure with Loopscale’s credit and vault infrastructure to provide a one-stop on-chain financial platform for tokenized asset issuers covering the entire journey from issuance to scaling. The platform has already established partnerships with Figure, Shinhan Asset Management, Superstate, R3, and Securitize.