Figure Launches Blockchain-Based Stock Lending Platform OPEN

Redefining Capital Markets: Figure Launches Blockchain Equity Lending Platform

Figure Technology, a US-based blockchain firm, has launched the Open Public Equity Network (OPEN), a groundbreaking platform that enables investors to lend and borrow stocks directly on the blockchain without traditional intermediaries.

Blockchain-Powered Equity Issuance and Trading

With the Provenance blockchain developed by Figure, companies can issue digitized equity securities. These tokens represent real asset ownership and can be traded or lent in a decentralized environment.

Removing Intermediaries and Boosting Efficiency

The OPEN platform is designed to reduce reliance on central securities depositories, exchanges, and brokers in traditional equity markets. It also opens new opportunities for prime brokers to engage in cross-asset collateralization and lending while enhancing market efficiency and transparency.

Industry Response and Future Outlook

Interest has already been expressed by Digital Asset Trading firms (DATs) in utilizing OPEN for equity issuance, signaling the platform's potential to drive significant transformation in the digitization of capital markets.