Figure will launch its tokenized stocks and conduct a $150 million stock offering

Techub News reports that, according to CoinDesk, Figure announced the issuance of a tokenized version of its stock on the blockchain. The stock token, named FGRD, will be issued, traded, and settled on Figure's blockchain and the lending platform Onchain Public Equity Network (OPEN), without relying on traditional clearing and custody systems. Investors can access the asset through the Figure Markets app and a self-custody wallet integrated with the network. Investors can also use their stock tokens to borrow via Figure's decentralized finance protocol Democratized Prime.

This tokenized stock listing by Figure coincides with its secondary public offering, which has been expanded to $150 million, with Pantera Capital as one of the participants.