Figure Technology | Crypto

The Nasdaq-listed company is rolling out an onchain equity system that allows real shares to be issued and lent directly on blockchain infrastructure. Figure Technology Solutions, a blockchain-focused financial technology company, is pushing stock lending on-chain with a new system that allows investors to lend shares directly to one another without relying on traditional securities intermediaries. Bloomberg reported Wednesday that the company has launched the On-Chain Public Equity Network, known as OPEN, which allows companies to issue real equity directly on Figure’s Provenance blockchain. Unlike other tokenized stock offerings, which typically mirror existing shares through synthetic instruments, the equity issued on OPEN represents actual ownership. Those shares can be lent or pledged directly on the blockchain, bypassing intermediaries such as custodians, exchanges and brokers, according to Figure CEO Mike Cagney. Read more

Figure is planning a second IPO to issue blockchain-native equity on Solana, enabling onchain trading and DeFi use cases beyond traditional stock markets. Figure Technology, a blockchain-based financial services company focused on tokenized assets and lending, has filed for a second public offering aimed at issuing native equity directly on a public blockchain. The move, which follows the company’s recent Nasdaq listing, is designed to expand decentralized finance (DeFi) use cases on Solana. Speaking at the Solana Breakpoint conference, Figure executive chairman Mike Cagney said the company has submitted a filing with the US Securities and Exchange Commission (SEC) to launch what he described as “a new version of Figure equity on a public blockchain,” specifically Solana. Cagney said the blockchain-native equity would not trade on traditional exchanges such as Nasdaq or the New York Stock Exchange, nor would it rely on introducing brokers like Robinhood or prime brokers such as Goldman Sachs.  Read more