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

According to Odaily, 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, named On-Chain Public Equity Network (OPEN), supports the issuance of stocks and direct stock lending on the blockchain without the involvement of traditional intermediaries, and will 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 pledge these equities. (Bloomberg)