Figure launches OPEN, a network where companies list shares natively on the Provenance blockchain

Figure Technology Solutions/Provenance Blockchain

Figure unveiled OPEN, a market where shares are recorded on its blockchain from the start rather than as tokens that mirror shares held at the DTCC. Trading runs through Figure's regulated alternative trading system with instant settlement, and holders can lend or borrow shares on-chain instead of through a prime broker. Figure itself is the first issuer.

• Shares trade on a limit-order book and settle in real time.
• On-chain shares can be swapped for Figure's Nasdaq-listed stock.
• Stock lending runs through Figure's Democratized Prime protocol.
• Bernstein analysts saw on-chain shares as a longer-term option for Figure, with tokenized loans the main growth driver.