Provenance Blockchain by Figure Technology Solutions: status and timeline

Provenance Blockchain

Move the records of lending and securities onto one shared ledger, so loans and shares can be sold, pledged and settled in seconds instead of days, cutting the fees of custodians, clearing houses and other middlemen.

ScalingStage 5 of 5

Live since 2018 with $50B+ moved on-chain; Q2 2026 loan volume $4.3B; OPEN live since Jan 2026.

Updated 13 Aug 2026Checked 11 Oct0 updates this week

Milestones

Next · Bring outside companies to list on OPEN

First home-equity loans recorded on Provenance2018Complete.
YLDS interest-paying token launchesFeb 2025Complete.
Nasdaq IPO at $25 a share10 Sep 2025Complete.
OPEN on-chain equity network launches14 Jan 2026Complete.
First blockchain-native share sale priced at $3218 Feb 2026Complete.
Bring outside companies to list on OPENNowCurrent milestone.

Most important updates

Current obstacles

Attracting other issuers and traders to OPENFigure itself was OPEN's first listing. It needs outside companies and market makers before it can rival a stock exchange.
Showing the chain is not Figure's aloneFigure holds about 25% of HASH and staffs the foundation. Outside users must trust that the network is run by the community.
Securities rules built around old plumbingEach product so far, YLDS and the blockchain stock, needed its own SEC registration, which slows every new on-chain asset.

Physics limits

A ledger can't check the real worldThe chain proves who owns a loan record, not that the house, income or lien behind it exist. Appraisers, courts and land registries still decide what the token is worth.
Fast finality needs an honest validator setChains like this finalise blocks in seconds because a known group of validators votes; if a third of the stake fails or colludes, the chain halts or can be attacked.
Liquidity splits across venuesA share that trades both on-chain and on Nasdaq divides its buyers and sellers. Prices stay aligned only if someone keeps converting between the two.

How it works

4 parts

Chain

A proof-of-stake ledger

Built with the Cosmos toolkit: validators, weighted by the HASH tokens staked with them, propose and confirm blocks and are paid from fees.

Loans

Loan records as on-chain assets

A loan's ownership and payment history live on the chain; selling it moves the record to the buyer, so no custodian has to re-check the file.

Money

YLDS settles trades

A registered token backed by money-market-style assets. It accrues interest daily and moves wallet to wallet, so trades settle on the same chain.

OPEN equity market

Shares are registered on-chain, trade on a limit-order book and settle at once; holders can lend them out or swap them 1:1 for Nasdaq shares.

Spec sheet

Spec	Provenance Blockchain
Transactions on Provenance to date	$50B+^R (reported)
Loan marketplace volume (Q2 2026)	$4.3B (+132% y/y)^R (reported)
YLDS interest rate	SOFR minus 0.50%^R (reported)

^R reported by the company

Update log

4 updates

About Figure Technology Solutions

The team behind Provenance Blockchain

Figure Technology Solutions

Provenance blockchain, on-chain loans, YLDS, OPEN

Figure runs a consumer-lending marketplace, mostly home-equity lines of credit, where loans are created, funded and sold on its own Provenance blockchain. It also issues YLDS, an SEC-registered interest-paying token, and runs OPEN, a market for on-chain shares.

Q2 2026: $4.3B of consumer loans through its marketplace (+132% y/y), $226M revenue and $87M net income.
More than $50B of transactions have run on Provenance since 2018; Figure holds about 25% of HASH tokens.
OPEN (Jan 2026) lists shares natively on-chain; Figure's own blockchain stock, sold at $32 in Feb 2026, came first.

Company profile →

Founded: 20188 yrs
Headquarters: United States
Status: Public
Listed: FIGR (opens google.com)NASDAQ
Valuation: $5.3Bmarket capSep 2025
Last round: IPO (Nasdaq: FIGR) · $788M10 Sep 2025
Works in: CryptoStablecoins & tokenization
Coverage: 1 program · 5 updateslatest 13 Aug 2026checked 11 Oct
Lead investors: Goldman SachsJefferiesBofA Securities
Partners: Provenance Blockchain Foundation (opens theblock.co)Goldman Sachs (opens lw.com)
People: Michael TannenbaumCEOMike CagneyCo-founder & Executive ChairmanJune OuCo-founder; director, Provenance Blockchain Foundation

Spec

Provenance Blockchain

Transactions on Provenance to date

$50B+^R (reported)

Loan marketplace volume (Q2 2026)

$4.3B (+132% y/y)^R (reported)

YLDS interest rate

SOFR minus 0.50%^R (reported)

Provenance Blockchain

Milestones

Most important updates

Current obstacles

Physics limits

How it works

A proof-of-stake ledger

Loan records as on-chain assets

YLDS settles trades

OPEN equity market

Spec sheet

Update log

Thu 13 Aug

Wed 18 Feb

Wed 14 Jan

Fri 21 Feb 2025

About Figure Technology Solutions

Current obstacles

Physics limits

How it works

A proof-of-stake ledger

Loan records as on-chain assets

YLDS settles trades

OPEN equity market

Spec sheet

Update log

Thu 13 Aug

Wed 18 Feb

Wed 14 Jan

Fri 21 Feb 2025

About Figure Technology Solutions