Figure launches blockchain-based public equity network

Figure Technology Solutions Inc. (NASDAQ: FIGR) launched the On-Chain Public Equity Network, allowing companies to list their equity directly on blockchain rather than creating tokenized versions of traditional securities.

The network operates on the Provenance Blockchain and uses Figure's Alternative Trading System for trading. Companies listing on the platform will have their shares registered on blockchain, bypassing the Depository Trust and Clearing Corporation system used by traditional markets.

Figure filed a public registration statement in November 2025 for a secondary equity offering using the network and plans to be the first issuer to utilize the platform. The company intends to enable exchange between its blockchain-based shares and existing NASDAQ-listed equity.

Jump Trading LLC will provide market-making services for the platform, while BitGo will offer custodial services to eligible shareholders. The network includes a decentralized finance protocol called Democratized Prime that allows shareholders to borrow against and lend their stock holdings.

"OPEN reinvents equity trading," said Mike Cagney, Figure's Executive Chairman. "The significant benefits over the centralized incumbent model incent companies to use OPEN and their investors to demand it."

Figure reports originating over $20 billion in loans on public blockchain. The company operates as a blockchain-native capital marketplace connecting loan origination, funding, and secondary market activities. Figure and its partners have collectively originated over $21 billion in home equity financing.

The company states it has secured one commitment for the next on-chain issuance and expects interest from blockchain-native companies and traditional financial institutions.

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