Solana Foundation, Jupiter, AIX, and Intebix sign MoU for Dual IPO Listings

In a bold move to transform the future of capital markets, four major organizations, Astana International Exchange (AIX), Intebix, Solana Foundation, and Jupiter, have signed a Memorandum of Understanding (MoU) to develop a dual listing mechanism for companies pursuing Initial Public Offerings (IPOs).

The goal of this mechanism is to deliver a seamless experience that supports companies in raising capital and gives investors access to a broader range of assets across interoperable ecosystems.

Bridging Traditional and Digital Markets

If implemented, the dual listing mechanism would introduce a groundbreaking approach to IPOs. Companies could go public on AIX, Kazakhstan’s internationally focused stock exchange, while also issuing tokenized versions of their shares through Intebix. These digital assets would be secured and managed using Solana’s blockchain and Jupiter’s powerful decentralized suite of financial tools. This approach blends the credibility and reach of regulated public markets with the transparency and efficiency of blockchain networks.

This hybrid model aims to attract a broader range of investors, streamline capital market operations, and improve access to liquidity, all within a secure and compliant regulatory framework.

Leaders Speak on the Vision

Assel Mukazhanova, CEO of AIX, emphasized the significance of the partnership:

“This agreement marks a significant step toward the convergence of conventional capital markets and next-generation blockchain-based platforms. By joining forces, we are shaping an environment where innovation and trust go hand in hand."

Talgat Dossanov, CEO of Intebix, highlighted the potential impact:

“This MoU marks a transformative step for Kazakhstan and global markets. At Intebix, we are committed to bridging the gap between traditional finance and blockchain innovation. By enabling tokenized listings alongside conventional IPOs, we are laying the foundation for a new era of capital formation."

Akshay BD, non-CMO of the Solana Foundation, added:

“Capital markets are moving online, beyond the borders of any one country or exchange. We’re proud to collaborate with AIX to create a regulatory framework that supports next-generation IPO paths, including dual listings and other internet-native methods."

Kash Dhanda, Chief Operating Officer / Cat Herder at Jupiter, noted:

“Kazakhstan’s leadership is a signal to the world: the future of capital formation will be onchain, transparent, and interoperable. We look forward to collaborating closely to define compliant and scalable frameworks for decentralized finance."

Strategic Synergy Across Sectors

This MoU brings together AIX, a regulated exchange grounded in English common law; Intebix, a licensed crypto exchange with robust crypto-fiat infrastructure; the Solana Foundation, a leader in high-performance decentralized blockchain technology; and Jupiter, a Solana-based crypto superapp driving onchain liquidity and token infrastructure.

Together, they represent a convergence of expertise across traditional finance, digital assets, blockchain, and DeFi, advancing accessible and scalable tokenized finance.

Looking Ahead

The four parties have committed to working in good faith to assess the regulatory, technical, and commercial feasibility of the dual listing mechanism. If successful, this collaboration could establish a new standard for global capital formation that is secure, transparent, and intentionally inclusive.

Forma hosted the Solana Economic Zone event yesterday, May 28th, in Kazakhstan, showcasing the country’s growing status as a hub for blockchain innovation.

With the AIFC already home to over 3,800 global companies, this partnership highlights Kazakhstan's expanding role as a bridge between traditional finance and the emerging world of blockchain-enabled capital markets.

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