Figure launches an on-chain stock and lending platform, supporting on-chain issuance of real equity and direct stock lending

Odaily Planet Daily reports that blockchain lending company Figure Technology Solutions has launched a new on-chain stock and lending platform aimed at reducing intermediaries in traditional stock lending. The platform, called the On-Chain Public Equity Network (OPEN), supports issuing stocks on the blockchain and directly conducting stock loans without the involvement of traditional intermediaries. It will also allow companies to issue equity on Figure’s Provenance blockchain. Unlike many tokenization efforts, OPEN’s blockchain stocks are not synthetic versions of listed stocks but represent actual equity ownership, allowing shareholders to lend or collateralize these equities. (Bloomberg)