Overview
- OPEN registers equities directly on the Provenance blockchain and routes trading through Figure’s FINRA/SIPC‑member ATS using a continuous limit order book.
- Figure plans to be the first issuer, with a previously filed November 2025 registration for a non‑dilutive secondary, and will allow two‑way exchangeability with its Nasdaq‑listed stock.
- Shareholders will be able to borrow against and lend their stock via Figure’s Democratized Prime DeFi protocol, aiming to replace traditional prime broker functions.
- Jump Trading is onboarding to provide market‑making, and BitGo will offer qualified custody for eligible participants as the platform moves into commercial rollout.
- Figure says the model reduces DTCC‑related costs, enables self‑custody and self‑settlement, and supports portfolio margining across assets, building on its track record of over $20 billion in on‑chain credit and early issuer interest.