Figure (FIGR) is debuting its tokenized stock following upsized $150 million offering
Figure is launching FGRD, a natively onchain tokenized stock, alongside an upsized $150 million secondary public offering.Summary
Figure Technology Solutions (FIGR), led by Mike Cagney, is launching FGRD, a new class of tokenized stock that trades entirely on blockchain rails via its Onchain Public Equity Network (OPEN), eliminating traditional clearing and custody systems.
The FGRD token allows for instant settlement, programmable compliance, and integration with Figure's decentralized finance protocol, Democratized Prime, for lending and borrowing. Unlike most tokenized equities backed by offchain assets, FGRD is issued natively onchain, representing actual equity.
This debut coincides with Figure's secondary public offering, which was upsized to $150 million, with participation from Pantera Capital. Cagney stated this move re-architects capital markets infrastructure to be real-time and transparent by removing costly intermediaries.
(Source：CoinDesk)