First Block launches Solana-based security token offering
17 June 2026 US
Image: Siarhei/stock.adobe.com
First Block, a digital securities and tokenisation infrastructure firm, alongside Onpharma Company, the issuer of the product, and Crito Capital, an investment banking and advisory platform, have launched a Solana-based security token offering (STO) for established businesses operating in the US.
The framework combines blockchain settlement technology, programmable ownership architecture, and digital distribution capabilities, intended to efficiently issue, settle, and distribute a private offering to eligible investors cross-border.
The STO is thought to be the first product of its kind, designed to support atomic settlement and accommodate a range of compatible wallets, subject to know your customer controls and existing US Securities law.
Speaking on the launch, Daniel P. Cannon, CEO of First Block, says: “We believe this transaction represents the beginning of the convergence between capital markets and Solana-based securities infrastructure.”
Matt Stepovich, Onpharma’s CEO, adds: “This offering allows us to present a validated, revenue-generating medical device platform to a wider base of qualified international investors via a structure that reflects how capital markets are evolving.”
The framework combines blockchain settlement technology, programmable ownership architecture, and digital distribution capabilities, intended to efficiently issue, settle, and distribute a private offering to eligible investors cross-border.
The STO is thought to be the first product of its kind, designed to support atomic settlement and accommodate a range of compatible wallets, subject to know your customer controls and existing US Securities law.
Speaking on the launch, Daniel P. Cannon, CEO of First Block, says: “We believe this transaction represents the beginning of the convergence between capital markets and Solana-based securities infrastructure.”
Matt Stepovich, Onpharma’s CEO, adds: “This offering allows us to present a validated, revenue-generating medical device platform to a wider base of qualified international investors via a structure that reflects how capital markets are evolving.”
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