This Thursday, Figure Technology Solutions, led by Mike Cagney, announced the debut of FGRD, a native class of Figure’s tokenized stocks trading on the OPEN network. The official announcement highlights that the asset allows for the trading, settlement, and issuance of shares without relying on the traditional clearing and custody systems that underpin Wall Street, removing layers of intermediaries that add cost and friction.
Unlike other digital derivatives, these shares represent the company’s actual equity issued natively on the blockchain, enabling real-time execution and programmable compliance. This launch occurs amid an upsized $150 million secondary public offering with participation from Pantera Capital, positioning the firm as a pioneer in re-architecting capital markets through Real World Assets (RWA).
Following the announcement, investors will monitor the integration of FGRD into the Democratized Prime decentralized finance protocol, where the shares can be used for lending. Furthermore, it will be crucial to observe how the market reacts following recent digital asset volatility, while Figure continues its $10 million common stock repurchase plan.
Source:https://x.com/Figure/status/2024493124827910207
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