Figure Technology Solutions Pushes Tokenized Equity Frontier as Market Cap Nears $12B
Figure Technology Solutions (FIGR) slid 3.2% to $55.51 in afternoon trading, erasing early gains as profit-taking emerged following its blockchain equity expansion announcement. The fintech firm now commands an $11.8 billion valuation amid accelerating institutional adoption of tokenized assets.
The company's OPEN Network introduces native digital shares on Provenance blockchain, enabling peer-to-peer equity transfers and lending without broker intermediaries. Settlement times collapse from days to minutes under the new framework, which has processed $800 million in monthly volume during its pilot phase.
Corporate treasury departments are increasingly adopting such structures - Figure's recent IPO showcased how blockchain rails can streamline capital formation. The MOVE coincides with Wall Street's broader shift toward on-chain equity frameworks, where JPMorgan and BlackRock have made recent strategic investments.
