According to a report by CoinDesk, blockchain-based lending company Figure has announced the launch of a blockchain-native stock trading platform called the "On-Chain Public Equity Network" (OPEN). The platform allows companies to issue shares directly on the Provenance blockchain, bypassing traditional intermediaries like DTCC, thereby reducing costs and increasing transparency. The platform will be custodied by BitGo and supported for liquidity by Jump Trading. Investors will be able to lend against their holdings in a DeFi manner, without relying on prime brokers. Figure plans to be the first company to list its own shares on the platform, with its Nasdaq-listed shares interchangeable with the new blockchain-registered shares.
Figure Launches Blockchain-Native Stock Trading Platform OPEN with BitGo and Jump Trading Support
TechFlowShare
Summary
Blockchain news broke as Figure launched its blockchain-native stock trading platform, OPEN, in partnership with BitGo and Jump Trading. The On-Chain Public Equity Network uses the Provenance blockchain to allow companies to issue shares directly, eliminating traditional intermediaries like DTCC. BitGo will manage custody, while Jump Trading provides liquidity. Investors can utilize DeFi methods to lend against their holdings. Figure plans to list its own shares, making its Nasdaq stock interchangeable with blockchain-registered shares. The platform represents a blockchain-driven evolution in equity trading.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.