• Figure is debuting its tokenized stock along with upsized $150 million offering The FGRD token represents common shares of the company issued natively onchain with instant settlement and built-in lending tools. • What to know: Figure will issue Thursday a tokenized version of its stock directly on blockchain rails, bypassing legacy clearing systems. • Stock token holders will be able to lend or borrow through Figure’s DeFi market. • The listing comes amid Figure’s $150 million secondary share offering, with Pantera Capital among participants. • Figure Technology Solutions (FIGR), the blockchain company helmed by ex-SoFi CEO Mike Cagney, is debuting Thursday a new, tokenized class of its stock that trades entirely on blockchain rails cutting out traditional intermediaries, the firm told CoinDesk. • The stock token, dubbed FGRD, will be available on Figure’s Onchain Public Equity Network (OPEN), where it is issued, traded and settled without relying on the traditional clearing and custody systems that underpin most of Wall Street.
Article Summaries:
- Figure Technology Solutions (FIGR) will launch a tokenized version of its common shares, the FGRD token, on its Onchain Public Equity Network (OPEN). The on‑chain token will be issued, traded and settled directly on a blockchain, eliminating traditional clearing and custody intermediaries. Holders can use FGRD for lending or borrowing through Figure’s DeFi protocol, Democratized Prime. The debut coincides with an upsized $150 million secondary share offering, in which Pantera Capital participated, and a $10 million share repurchase. Figure’s move aims to provide faster, programmable equity trading and reduce settlement risk.
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