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

According to Bloomberg, 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 is called the On-Chain Public Equity Network (OPEN), which supports the issuance of stocks on the blockchain and allows for direct stock lending without the involvement of traditional intermediaries, enabling companies to issue equity on Figure's Provenance blockchain.

Unlike many tokenization efforts, OPEN's blockchain stocks are not synthetic versions of publicly traded stocks, but rather represent actual equity ownership, allowing shareholders to lend or pledge these equities.