Figure Files for first Blockchain-Native Public equity Offering, Disrupting Capital Markets
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Figure Technology Solutions, Inc. (Nasdaq: FIGR) is poised to redefine public equity offerings with the filing of a registration statement with the U.S. Securities and Exchange Commission (SEC) for its Series A Blockchain Common Stock. this groundbreaking move aims to establish the first-ever blockchain-native public equity security,trading on Figure’s choice trading system (ATS) and perhaps reshaping the future of capital markets.
A New Era for Equity Trading
The proposed “Blockchain Stock” will represent a important departure from traditional equity structures. Unlike conventional stocks held through the Depository Trust & Clearing Corporation (DTCC), Figure’s security will be issued directly on the Provenance Blockchain. This shift promises to streamline processes, reduce costs, and enhance transparency. According to a company release, “This is a new capital markets infrastructure moment for efficiency and risk management – a huge leap forward from the legacy securities market infrastructure, and the start of a world that no longer needs it.”
Decentralized finance Meets Public Equity
Holders of the Blockchain Stock will gain access to unique functionalities powered by decentralized finance (DeFi). Through Figure’s Democratized Prime protocol, built on the Provenance Blockchain, investors will be able to borrow against and lend thier stock, unlocking new avenues for capital utilization. This contrasts sharply with the traditional system, where prime brokers control stock lending.
The offering will also leverage Figure’s $YLDS, the first SEC-registered transferable yielding stablecoin, for all bids and settlements in the secondary market. This stablecoin-only settlement is another industry first, eliminating the complexities and delays associated with traditional currency settlement.
Key Features of the Blockchain stock
Figure’s proposed offering boasts several key innovations:
- Blockchain-Native Issuance: The stock will exist entirely on the Provenance Blockchain, settling ex
Figure has filed a registration statement with the SEC, but the offering cannot proceed until the statement becomes effective. Investors are urged to review the prospectus and other relevant documents available on the SEC’s website (www.sec.gov) or by contacting the underwriters:
- Goldman Sachs: 1-866-471-2526, [email protected]
- Morgan Stanley: 180 Varick Street, 2nd Floor, New York, New York 10014
- Cantor Fitzgerald: [email protected]
Legal counsel for Figure is provided by Davis Polk & Wardwell LLP, while Latham & Watkins LLP represents the underwriters.
Figure’s Expanding Blockchain Ecosystem
Figure Technology Solutions has rapidly emerged as a leader in real-world asset (RWA) tokenization. The company’s ecosystem includes DART (digital Asset Registry Technology) for asset custody, Figure Securities’ alternative trading system, and $YLDS.Figure recently achieved a first-of-its-kind AAA rating from S&P for a blockchain-based securitization, demonstrating the viability and security of its platform. “Today’s announcement extends Figure’s track record of using blockchain to deliver real efficiency and better outcomes across the capital markets,” added Michael Tannenbaum, CEO of Figure.
Investors shoudl carefully consider the risks associated with $YLDS stablecoins, which are unsecured and backed solely by the assets of Figure Certificate Company. Further information is available at https://www.figuremarkets.com/disclosures/.
