Figure Technology Launches OPEN Blockchain Platform for Direct Equity Trading
Figure Technology Solutions unveiled its On-Chain Public Equity Network (OPEN), a blockchain-based platform enabling direct issuance and trading of public equities. The system operates on Figure's Provenance blockchain, bypassing traditional intermediaries like DTCC, custodians, and brokers.
CEO Mike Cagney positions OPEN as a paradigm shift - allowing investors to lend shares natively onchain while maintaining direct ownership interests. Figure will be the first listed company on OPEN, making its Nasdaq shares interchangeable with blockchain-registered equity.
The platform launches with institutional support from BitGo and Jump Trading, providing custody and liquidity infrastructure. This MOVE capitalizes on the growing tokenized stock market, which reached $1.2 billion valuation with $800 million monthly volumes by late 2025.