Figure’s Launch: Pioneering the Next Era of On-Chain Equity Trading

Imagine trading stocks directly on a blockchain, with instant settlements, self-custody wallets, and no middlemen slowing things down. That’s the vision Figure Technology Solutions is bringing to life with its latest move. The company has announced a proposed secondary public offering of up to 4.23 million shares of its Series A . This isn’t just another stock sale—it’s a bold test of how blockchain can transform traditional equity trading.

What is Figure Technology Solutions?

Figure is a blockchain-native capital marketplace focused on tokenized assets. They make it easy for people to buy, sell, and manage assets like loans and now stocks on the blockchain. Over the years, Figure has originated more than $20 billion in on-chain credit, proving that blockchain works for real-world finance.

Their tech stack runs on the Provenance Blockchain, a secure and efficient network built for financial applications. Figure also runs a non-custodial alternative trading system (ATS), meaning users keep control of their own assets—no need to trust a third party with your funds.

The Details of the Offering

In a recent press release, Figure revealed plans for this secondary offering. They first filed a registration statement with the U.S. Securities and Exchange Commission (SEC) back in November. This step makes the offering fully compliant with U.S. regulations.

Here’s what makes this special:

• Blockchain-Native Equity: It’s a new class of stock designed from the ground up for blockchain.
• Trading Venue: Shares will trade on Figure’s own ATS.
• Convertibility: Each share converts one-for-one into Figure’s Class A Common Stock.
• Full Stack: Issued on Provenance Blockchain, traded non-custodially, and settled in user wallets.

This setup skips the old-school systems that take days to settle trades. Instead, everything happens on-chain—fast, transparent, and secure.

OPEN: The Network Powering This Revolution

In January, Figure launched its On-chain Public Equity Network (OPEN). This platform lets companies list equity directly on blockchain. Figure is leading by example, becoming the first issuer on OPEN with this filing.

Mike Cagney, Figure’s Executive Chairman and Co-founder, called it a game-changer. “OPEN reinvents equity trading,” he said. “The benefits over old centralized models push companies to adopt it, and investors want it.” He highlighted how it beats legacy infrastructure in efficiency and risk management.

Cagney also noted, “This is a new capital markets infrastructure moment—a huge leap forward, starting a world that no longer needs the old systems.” With $20 billion in on-chain credit already under their belt, Figure is ready to expand into public equity.

Impressive Financial Growth Fuels the Push

Figure’s recent earnings show why they’re confident. In the fourth quarter, their consumer loan marketplace volume jumped 131% year-over-year to $2.7 billion. For the full year, it rose 63% to $8.4 billion.

CEO Mike Tannenbaum said these results show “meaningful progress in modernizing capital markets.” He added that it positions Figure to speed up the transformation even more.

This growth proves blockchain isn’t just hype—it’s delivering real results in lending and now trading.

Why Matters for Investors and Companies

Traditional stock trading has big problems: high fees, slow settlements, limited hours, and counterparty risks. fixes these with:

1. 24/7 Trading: No more waiting for market hours.
2. Instant Settlement: Trades clear in seconds, not days (T+2).
3. Lower Costs: Fewer intermediaries mean cheaper trades.
4. Self-Custody: You hold your own shares in a wallet.
5. Transparency: Every transaction is on a public ledger.

For companies, OPEN makes raising capital easier. They can tap global investors without the hassle of legacy brokers. Tokenized equity also opens doors to fractional ownership, letting more people invest in high-growth firms like Figure.

Challenges and the Road Ahead

Blockchain trading is new, so hurdles remain. Regulators like the SEC are watching closely to ensure investor protection. Scalability on networks like Provenance is key as volumes grow. Adoption will take time—Wall Street won’t vanish overnight.

But Figure’s SEC filing shows they’re playing by the rules. Success here could inspire others. Think BlackRock or other giants tokenizing assets. Soon, we might see a hybrid world where blockchain and traditional markets blend.

The Bigger Picture: Blockchain’s Takeover of Finance

Figure’s launch is part of a larger shift. Tokenized assets are exploding—from real estate to bonds. Provenance Blockchain already handles billions in loans. Adding public equity could push the total value locked (TVL) in on-chain finance to new highs.

Investors should watch this closely. Early adopters could gain big as efficiency wins. For everyday users, it means easier access to markets once reserved for the wealthy.

Conclusion: A Step Toward the Future

Figure’s offering isn’t just a stock sale—it’s a proof-of-concept for on-chain public markets. With strong growth, innovative tech, and bold leadership, they’re testing the future of trading. Will this spark a rush to blockchain equity? Stay tuned as Figure leads the charge.

If you’re into crypto, blockchain, or finance innovation, this is one to follow. What do you think—ready for stocks on blockchain?

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