Nasdaq-listed Figure Technology has launched a blockchain-based stock lending platform, Cointelegraph reported on Jan. 14.
Figure Technology said its OPEN (On-Chain Public Equity Network) supports companies in issuing and lending real shares directly on the blockchain.
Unlike existing tokenised stocks that have traded as synthetic financial products, OPEN issues real shares directly on-chain. Figure CEO Mike Cagney said, "Through OPEN, investors can lend shares on the blockchain or use them as collateral without brokers." The company said it expects improved settlement efficiency and greater transparency in stock ownership and lending activity.
Cagney told Bloomberg in an interview that companies holding digital assets are showing interest in issuing shares using the OPEN platform.
Chi-gyu Hwang
delight@d-today.co.kr