Figure Launches On-Chain Platform for Direct Stock Lending

Figure Technology Solutions has launched the On-Chain Public Equity Network (OPEN) on its Provenance blockchain to facilitate direct stock lending among investors, bypassing traditional intermediaries like custodians and brokers. Unlike synthetic offerings, equity issued on OPEN represents actual ownership and can be lent or pledged natively on the blockchain, promising streamlined settlement and improved transparency. Figure CEO Mike Cagney noted interest from various companies, including digital asset treasury firms. This move aligns with the growing trend of tokenized equities, which some industry participants compare to the early growth phase of stablecoins, as the total value of tokenized stocks is increasing significantly.

(Source：Cointelegraph)