Figure Launches On-Chain Stock and Lending Platform, Supporting On-Chissuance of Real Equity and Direct Stock Lending

Odaily News Blockchain lending company Figure Technology Solutions has launched a new on-chain stock and lending platform aimed at reducing intermediaries in traditional stock lending. It is reported that the platform is named the On-Chain Public Equity Network (OPEN). It supports issuing stocks on the blockchain and conducting direct stock lending without the involvement of traditional intermediaries. It will also allow companies to issue equity on Figure's Provenance blockchain. Unlike many tokenization efforts, OPEN's blockchain stocks are not synthetic versions of listed stocks but represent actual equity ownership, and shareholders can lend out or pledge these equity stakes. (Bloomberg)