Orca and Loopscale merge under Formation brand

• Orca and Loopscale have merged to form Formation, a new brand focused on capital markets for AI and the frontier economy.
• The combined platform brings together trading, liquidity, credit and vault infrastructure across the Solana ecosystem.
• Loopscale co-founder Luke Truitt will serve as Formation’s chief executive, according to the announcement.

Orca (ORCA) and Loopscale have merged under Formation, combining trading, credit and vault infrastructure for digital assets and frontier industries.

The combined team aims to connect emerging assets with issuance, financing and liquidity, while expanding options for capital allocators.

“The frontier economy is creating new business models and financing needs more rapidly than traditional market infrastructure is evolving to serve them,” according to Formation Chief Executive Luke Truitt.

Orca has processed more than $550 billion in trading volume since 2021, while Loopscale has facilitated over $2 billion in loans.

“Orca has spent years building deep liquidity, and we've seen firsthand that liquidity alone isn't enough to scale an asset,” according to Orca Chief Strategy and Legal Officer Christopher Montagano.

Both protocols will remain the foundation of the ORCA and xORCA token network as Formation develops unified services across origination, vault strategies and distribution.

Formation plans to introduce new issuer tools and capital allocation strategies over the next 12 months, building on its existing trading, lending and vault offerings.

The merger brings trading, credit and vault infrastructure under one brand, with Formation targeting capital needs across AI, energy, robotics and defence.