Figure will issue its on-chain tokenized stock on Thursday

Figure Technology Solutions will issue a tokenized version of its stock on-chain this Thursday. The stock token, named FGRD, will be issued, traded, and settled on the Onchain Public Equity Network (OPEN), a stock and lending platform under Figure, without relying on traditional clearing and custody systems. Stock token holders will be able to lend through Figure's DeFi market.

The listing of the tokenized stock coincides with its secondary public offering, which has been expanded to $150 million, with venture capital firms participating in the transaction.