Finance
What to know:
- Figure, in a splendid act of bravado, will unveil on Thursday a tokenized version of its stock, prancing directly on the blockchain, much like a circus performer avoiding the net below.
- Stock token holders, those intrepid souls, shall lend or borrow through Figure’s DeFi market, a veritable garden of financial delights.
- This grand listing arrives atop Figure’s marvelous $150 million secondary share offering, with Pantera Capital among the fanciful participants eager to join the spectacle.
Figure Technology Solutions (FIGR), that audacious blockchain company steered by the visionary ex-SoFi CEO Mike Cagney, is set to charm us all this Thursday with a dazzling new creation: a tokenized class of its stock that waltzes entirely on blockchain rails, cutting out the musty old intermediaries that haunt Wall Street.
This glamorous stock token, christened FGRD, will grace Figure’s Onchain Public Equity Network (OPEN), where it will be issued, traded, and settled without the burdensome reliance on traditional clearing systems. Such antiquated practices! One can almost hear them creaking.
In an enchanting twist, FGRD transactions are etched upon the blockchain, allowing for swifter executions than a magician’s trick and compliance so programmable it might as well wear a tuxedo.
Figure operates a blockchain-native capital markets platform that connects the trifecta of loan origination, funding, and secondary trading. The company has conjured over $22 billion in home equity loans and offers an array of tools for digital asset custody, tokenization, and on-chain yield products. Its infrastructure is the playground for banks, credit unions, and fintechs eager to usher traditional assets into the dazzling world of public blockchains.
Tokenized equities – those digital darlings of traditional stocks now frolicking on blockchain rails – have recently caught the eye for their potential to reduce settlement risk, improve transparency, and increase market access. Most remain tethered to off-chain assets and rely on intermediaries to reflect real-world ownership. FGRD, however, boldly goes forth, issued natively on-chain, representing actual equity rather than some mere shadow or proxy.
“Public equity still runs on decades-old market plumbing,” mused the ever-insightful Mike Cagney, executive chairman of Figure. “It simply doesn’t make sense anymore!” Indeed! What a charming sentiment!
“By issuing FGRD natively on-chain, we’re re-architecting the core infrastructure of capital markets to be real-time, transparent, and programmable, while removing layers of intermediaries that add cost, risk, and friction,” he added, with the flourish of a maestro conducting a symphony.
Figure’s tokenized stock debut arrives amidst the company’s secondary public offering, grandly upsized to $150 million. Oh, the drama! Venture firm Pantera Capital, ever the eager partner in crime, has joined the festivities. The firm also announced its intention to repurchase $10 million of its common stock from existing shareholders-a delightful twist in this tale.
Figure danced into the public arena last September, only to see its shares pirouette downward over the past month as crypto prices took a tumble, reminding us all that in the world of finance, the stage can be both exhilarating and perilous.
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2026-02-19 16:44