Figure announces the on-chain public equity network (OPEN) running on Provenance blockchain. Figure stock will be the first public equity trading native on public blockchain; BitGo, Jump Trading Group sign on to support. Unlike other tokenization efforts, OPEN equities are blockchain registered, not a tokenized version of Depository Trust and Clearing Corporation (DTCC) securities.

Figure said it has launched the On-Chain Public Equity Network (OPEN) on the Provenance blockchain, positioning it as a venue for companies to issue and trade equity natively on-chain rather than as tokenized wrappers of existing DTCC-listed shares. The company says its own stock will be the first public equity listed on OPEN, with trading intended to occur through Figure’s Alternative Trading System using a limit-order book, and Bloomberg and other reports note the model is designed to enable direct lending and borrowing of shares with fewer traditional intermediaries such as prime brokers.

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More coverage

• Figure Launches Onchain Public Equity Network - Markets Media (marketsmedia.com)
• Figure Announces the On-chain Public Equity Network (OPEN) (globenewswire.com)
• Figure releases On-chain Public Equity Network for direct stock ... (securitiesfinancetimes.com)
• Figure expands blockchain-based public equity network through ... (theasianbanker.com)
• Figure partners with moomoo and Keplr to expand access to OPEN (securitiesfinancetimes.com)

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