Figure Technology Solutions will debut a natively issued tokenized stock on its blockchain network, enabling real-time trading, lending, and settlement without traditional intermediaries.
Figure Technology Solutions, led by executive chairman Mike Cagney, will launch Thursday a tokenized class of its stock, FGRD, directly on blockchain via its Onchain Public Equity Network. The $150 million secondary public offering includes participation from Pantera Capital and a $10 million share repurchase from existing shareholders. FGRD bypasses traditional clearing systems, allowing holders to trade, lend, or borrow through Figure's Democratized Prime DeFi protocol. The firm operates a blockchain-native capital markets platform with $22 billion in home equity loans originated, and aims to re-architect capital markets infrastructure for faster, transparent, and programmable transactions.