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Figure Technology Solutions Launches OPEN for Blockchain (distributed ledger) Stock Issuance and Lending

Figure Technology Solutions Launches OPEN for Blockchain (distributed ledger) Stock Issuance and Lending

Figure Technologies’ newly launched OPEN network enables public companies to issue and trade shares directly on-chain, aiming to streamline equity issuance and lending via its Provenance blockchain.

Fact Check
The statement is highly likely to be true based on strong, consistent evidence from multiple authoritative sources. Several high-relevance reports from credible news outlets like The Block and CoinDesk explicitly confirm that Figure launched a platform named 'OPEN'. These sources, along with others from Bloomberg and Cointelegraph, consistently describe the platform's purpose as enabling the issuance of stock (equity) and facilitating lending directly on a blockchain. The evidence is mutually reinforcing, with multiple independent reports detailing the same event and platform functions.The sources with low relevance, which are pages from Figure's own website, do not contradict the statement; they are simply irrelevant. These pages focus on the company's other business lines, such as HELOCs and mortgage lending, and would not be expected to feature information about a new stock issuance platform. There is no conflicting evidence among the provided sources, leading to a high degree of confidence in the statement's truthfulness.
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Summary

Figure Technologies has officially launched the On-Chain Public Equity Network (OPEN), a blockchain-native platform on the Provenance blockchain that allows companies to issue and trade public equity directly on-chain. The OPEN platform issues real equity tokens representing actual ownership, enabling shareholders to lend stocks without traditional brokers. The initial offering on the network will be Figure's own equity token, marking the first tradable asset on this decentralized system.

Terms & Concepts
  • On-Chain Public Equity Network (OPEN): A blockchain-based platform enabling intermediary-free public equity issuance and trading with real equity ownership.
  • Provenance blockchain: A public distributed ledger used to issue, trade, and manage equity shares on the OPEN platform.
  • Equity tokens: Digital tokens on a blockchain representing actual ownership shares in a company.