Odaily Planet Daily News: Blockchain lending company Figure Technology Solutions has announced the launch of an on-chain public equity and lending platform, aiming to reduce 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, eliminating the need for traditional intermediaries. It will also allow companies to issue equity on Figure's Provenance blockchain. Unlike many tokenization efforts, the blockchain-based stocks on OPEN are not synthetic versions of listed stocks, but represent actual equity ownership, which shareholders can lend out or use as collateral. (Bloomberg)
Figure Launches On-Chain Stock and Lending Platform OPEN
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Summary
Figure has launched OPEN, an on-chain stock and lending platform. The On-Chain Public Equity Network allows companies to issue real equity on Figure's Provenance blockchain. Users can lend or collateralize shares directly, without the need for intermediaries. This on-chain development marks a significant step forward in blockchain-based equity solutions. OPEN's model provides actual ownership, not just tokenized representations. The platform is part of the expanding blockchain news cycle surrounding financial innovation.
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