Figure (NASDAQ:FIGR) launched the On-Chain Public Equity Network (OPEN) on Provenance Blockchain to permit corporations to listing equity natively on-chain quite than tokenizing DTCC securities. OPEN equities will commerce on a restrict order ebook by way of Figure’s ATS and assist steady buying and selling, with deliberate two-way exchangeability between OPEN shares and an organization’s Nasdaq-listed shares to protect cross-market liquidity. Figure highlighted its prior on-chain expertise, citing $20 billion in loans originated on public blockchain, and mentioned it filed a public registration in November 2025 for a non-dilutive secondary providing as the primary OPEN issuance. Market makers
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Optimistic
- $20 billion in prior on-chain loans originated
- Filed public registration in November 2025 for first OPEN issuance
- Deliberate two-way change between OPEN and Nasdaq shares to align liquidity
- Market contributors Bounce Buying and selling and BitGo making ready to assist OPEN
Unfavourable
- OPEN rollout relies upon on market-maker and custodian onboarding to allow liquidity
On-chain mortgage originations
$20 billion
Loans originated on public blockchain cited as monitor document for OPEN
OPEN registration submitting
November 2025
Public registration assertion for non-dilutive secondary equity providing on OPEN
Worth transfer on information day
7.75%
FIGR 24h worth change round OPEN launch announcement
$56.28
Final Shut
Quantity
Quantity 3,636,118 is 23% above 20-day common 2,965,280, indicating elevated curiosity forward of and round this OPEN launch.
regular
Technical
Buying and selling above 200-day MA 41.12 and 5.25% under 52-week excessive 59.40, close to the higher finish of its 1-year vary.
No friends from the Mortgage Brokers sector appeared within the momentum scanner, and no same-day peer headlines are recorded, so FIGR’s 7.75% transfer seems stock-specific to the OPEN announcement.
| Date | Occasion | Sentiment | Transfer | Catalyst |
|---|---|---|---|---|
| Jan 12 | Optimistic | -10.1% |
Preliminary This fall 2025 and December working information confirmed sharp quantity progress. |
|
| Dec 10 | Optimistic | -2.0% |
Introduced $YLDS minting on Solana and acceptance of SOL as mortgage collateral. |
|
| Dec 04 | Optimistic | +11.4% |
Launched Solana RWA consortium linking on-chain credit score and DeFi companions. |
|
| Nov 24 | Optimistic | +2.8% |
Ondo invested $25M into $YLDS stablecoin to energy OUSG tokenized Treasuries. |
|
| Nov 21 | Impartial | +2.8% |
Introduced CEO and CFO appearances at main investor conferences with webcasts. |
Latest optimistic bulletins have produced combined reactions, with 3 aligned optimistic strikes and 2 situations the place upbeat working or crypto/RWA information was adopted by declines.
Over the previous few months, Figure highlighted speedy progress in its blockchain-based platforms and capital markets initiatives. On Nov 24, 2025, Ondo invested $25 million in $YLDS, following disclosure of $19 billion in blockchain lending. Early December introduced a Solana RWA consortium and $YLDS growth, with notable month-to-month on-chain origination above $1B. Preliminary This fall 2025 working information on Jan 12, 2026 confirmed sharp mortgage and Democratized Prime progress, although the inventory fell 10.07%. In the present day’s OPEN launch extends the identical on-chain technique into public equities.
This announcement detailed OPEN, an on-chain public equity network on Provenance Blockchain, leveraging Figure’s historical past of over $20 billion in blockchain-originated loans. FIGR intends to listing its personal equity natively on-chain and allow exchangeability with its Nasdaq inventory, whereas companions like BitGo and Bounce Buying and selling assist custody and market making. Buyers might watch subsequent issuer sign-ups, buying and selling volumes on the ATS, and the way this integrates with Democratized Prime and prior Solana RWA initiatives.
blockchain
technical
“Figure inventory would be the first public equity buying and selling native on public blockchain;”
A blockchain is a digital record-keeping system that securely shops data throughout many computer systems, making it troublesome to change or tamper with. Consider it like a shared, unchangeable ledger that everybody can see and confirm, guaranteeing transparency and belief. For traders, this know-how provides a technique to securely monitor transactions and belongings with out relying on a government, probably decreasing prices and growing safety.
different buying and selling system (ATS)
monetary
“The equities will commerce on a restrict order ebook utilizing Figure’s Different Buying and selling System (ATS)”
An alternate buying and selling system (ATS) is a non-public digital venue the place patrons and sellers commerce shares and different securities exterior conventional public exchanges, like a neighborhood market that runs beside an enormous metropolis market. For traders, ATSs can provide sooner execution, decrease prices, or entry to massive block trades, however they could commerce with totally different transparency and guidelines than public exchanges, so order routing and worth discovery could be affected.
decentralized finance (DeFi)
monetary
“Democratized Prime, a decentralized finance (DeFi) protocol to borrow towards and lend out their inventory”
Decentralized finance (DeFi) is a system that permits individuals to entry monetary providers—reminiscent of borrowing, lending, or buying and selling—instantly by way of digital platforms with out relying on conventional banks or monetary establishments. It makes use of blockchain know-how to function transparently and securely, giving traders extra management over their cash and probably decreasing prices. This innovation issues as a result of it may broaden monetary entry and create new alternatives for wealth constructing around the globe.
restrict order ebook
technical
“The equities will commerce on a restrict order ebook utilizing Figure’s Different Buying and selling System”
A restrict order ebook is a reside document on an change that lists all standing purchase and promote directions to commerce a inventory or different safety at particular costs and portions. Consider it as a market ledger or a grocery store shelf displaying what number of items individuals need at every worth; it issues to traders as a result of it reveals real-time provide and demand, how simply a commerce could be crammed, potential worth influence, and short-term assist or resistance for pricing and execution choices.
prime brokers
monetary
“disintermediating the function prime brokers historically play”
Prime brokers are specialised monetary companies that present a bundle of backend providers—reminiscent of commerce settlement, custody of belongings, lending of money or securities, and consolidated reporting—to skilled traders like hedge funds. Consider them as a single backstage supervisor who handles logistics, credit score and assist so a buying and selling crew can function easily; their phrases, reliability and credit score publicity have an effect on an investor’s means to borrow, commerce shortly and handle threat, so adjustments can affect prices and market entry.
AI-generated evaluation. Not monetary recommendation.
Figure inventory would be the first public equity buying and selling native on public blockchain; BitGo, Bounce Buying and selling Group signal on to assist
NEW YORK, Jan. 14, 2026 (GLOBE NEWSWIRE) — Constructing on the success of over
The equities will commerce on a restrict order ebook utilizing Figure’s Different Buying and selling System (ATS), opening the door for steady buying and selling. Shareholders will be capable to use Figure’s Democratized Prime, a decentralized finance (DeFi) protocol to borrow towards and lend out their inventory, disintermediating the function prime brokers historically play.
OPEN supplies a number of benefits to each itemizing corporations and shareholders over the present centralized equity capital market, together with:
- Blockchain registry reduces the associated fee and capital necessities mandated by DTCC
- Self-custody, self-settle ATS eliminates the necessity for custodial brokers, radically democratizing entry to buying and selling and decreasing prices
- Portfolio margining by way of DeFi helps the potential for greater advance charges and higher cross-collateralization throughout asset lessons, together with crypto
- Changing the present inventory borrow find course of with a clear restrict order ebook directs inventory mortgage economics again to shareholders, not prime brokers
“OPEN reinvents equity buying and selling,” mentioned Mike Cagney, Figure’s Govt Chairman. “The numerous advantages over the centralized incumbent mannequin incent corporations to make use of OPEN and their traders to demand it. After originating over
Figure plans to be the primary issuer to make use of OPEN, having filed a public registration assertion in November 2025 for a non-dilutive, secondary equity providing utilizing the OPEN network. Figure intends to assist frictionless two-way change of OPEN inventory for its Nasdaq equity, a functionality each OPEN issuer could have. By making the securities exchangeable, liquidity is constant throughout each marketplaces.
Market makers reminiscent of Bounce Buying and selling LLC have begun preparations to be onboarded to the blockchain and enabled to offer market-making and BitGo signing on to offer certified custodial providers to eligible OPEN shareholders who want it.
“We’re seeing rising momentum throughout the business towards extra clear, blockchain-native market buildings,” mentioned Mike Belshe, CEO and Co-founder of BitGo. “Figure’s OPEN on-chain choices characterize the subsequent evolution of digital asset markets, and BitGo is proud to assist the infrastructure that permits them to function securely and at scale.”
In reference to the announcement, Figure is constructing out a devoted enterprise growth effort to drive OPEN adoption, and already has its first dedication for the subsequent on-chain issuance. Figure expects robust extra curiosity from DATs and blockchain native corporations, in addition to assist from the vendor group and buy-side strain to drive progress within the OPEN network of listed corporations.
Issuers fascinated by studying extra can go to https:/www.determine.com/OPEN
About Figure Expertise Options, Inc.
Figure Expertise Options, Inc. (Nasdaq: FIGR) is a blockchain-native capital market that seamlessly connects origination, funding, and secondary market exercise. Greater than 200 companions use its mortgage origination system and capital market. Collectively, Figure and its companions have originated over
Figure is the market chief in actual world asset (RWA) tokenization and its most up-to-date securitization obtained a AAA score from S&P and Moody’s, the primary of its form for blockchain finance. For extra data, go to https://figure.com or observe Figure on LinkedIn.
The On-Chain Public Equity Network contains a wide range of providers provided by the Figure Group of corporations, which embrace its different Buying and selling System (“Figure ATS”) operated by Figure Securities, Inc., member FINRA/SIPC. Figure Securities, Inc. is a completely owned subsidiary of Figure Expertise Options, Inc.
Media Contacts
Figurepr@serotonin.co
FAQ
What’s Figure’s OPEN network and the way does it differ from tokenized DTCC securities (FIGR)?
OPEN lists equity natively on-chain as blockchain-registered securities quite than tokenizing current DTCC securities, and trades them on a restrict order ebook by way of Figure’s ATS.
When did Figure file a registration for the primary OPEN on-chain equity providing (FIGR)?
Figure filed a public registration for a non-dilutive secondary OPEN providing in November 2025.
How does liquidity work for OPEN shares versus Nasdaq shares for FIGR issuers?
Figure intends to assist frictionless two-way change so OPEN shares could be exchanged for an organization’s Nasdaq equity, conserving liquidity constant throughout each markets.
Which service suppliers are making ready to assist FIGR OPEN listings?
Market maker Bounce Buying and selling is making ready to onboard for market-making and BitGo is making ready to offer certified custodial providers.
What on-chain expertise does Figure cite to assist OPEN (FIGR)?
Figure cites having originated over $20 billion in loans on public blockchain as prior on-chain expertise.
