Figure Launches SEC-Registered Blockchain Stock with T+0 Settlement
Figure Technology Solutions launched FGRD, the first SEC-registered common stock issued natively on a public blockchain, using its OPEN network to manage share lifecycles without DTCC intermediaries. The platform achieves T+0 settlement, cuts counterparty risk, and has multiple corporations lined up to issue equity on-chain.
1. SEC-Registered Blockchain Stock Launch
Figure Technology Solutions introduced FGRD, the first common stock issued natively on a public blockchain, leveraging its On-Chain Public Equity Network to manage the full lifecycle of shares without relying on DTCC intermediaries.
2. T+0 Settlement Advantages
The blockchain-based infrastructure enables T+0 settlement, eliminating the standard two-day clearance window and reducing counterparty risk inherent in traditional market maker processes.
3. Market Expansion and Pipeline
The company is targeting a multi-issuer ecosystem, with several firms in the pipeline planning to issue equity on the OPEN network, potentially boosting transaction volumes and fee-based revenue.
4. Risk Mitigation and Custody
To address self-custody concerns, the platform integrates a transfer agent function that allows shareholders to recover lost keys through identity verification, ensuring secure and retrievable ownership records.