Figure joins stock tokenization race with new trading platform backed by BitGo, Jump
PositiveCryptocurrency
- Figure has launched a new trading platform named OPEN, which allows for the tokenization of equities directly on the blockchain, effectively bypassing traditional clearinghouses like the DTCC. This innovative approach aims to facilitate decentralized finance (DeFi) lending by integrating traditional stock trading with blockchain technology.
- The introduction of the OPEN platform is significant for Figure as it positions the company at the forefront of the stock tokenization race, leveraging partnerships with BitGo and Jump to enhance its operational capabilities and market reach.
- This development reflects a broader trend in the financial sector where traditional securities are increasingly being integrated with blockchain solutions, as evidenced by recent approvals for the DTCC to tokenize various financial instruments. The evolving regulatory landscape, including the SEC's support for such initiatives, indicates a growing acceptance of digital assets in mainstream finance.
— via World Pulse Now AI Editorial System
