TechFlow reported on January 15 that, according to CoinDesk, blockchain lending company Figure has announced the launch of an on-chain native stock trading platform called the "On-Chain Public Equity Network" (OPEN). The platform enables companies to issue shares directly on the Provenance Blockchain, bypassing traditional intermediaries such as DTCC, thereby reducing costs and enhancing transparency. BitGo will provide custody services for the platform, while Jump Trading will support liquidity. Investors will be able to use their holdings as collateral for lending through DeFi mechanisms, without relying on prime brokers. Figure plans to become the first company to list its own shares on this platform, with its existing Nasdaq-listed shares being interchangeable with the newly issued blockchain-registered shares.
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