Is Thursday issuance confirmed? What multiple reports indicate now
Coverage points to a near-term debut for Figure’s on-chain equity. according to BlockBeats news, the company plans to tokenize its stock on Thursday under the Figure Stock Token name FGRD.
A separate report by BitcoinWorld states that Figure has launched FGRD as its first tokenized stock offering. The reports differ on timing, and neither cites a regulator-dated confirmation of the specific issuance day.
What FGRD is and how on-chain stock works
FGRD refers to Figure’s blockchain-native equity recorded on its On-Chain Public Equity Network (OPEN). As reported by The Block, the structure is designed for on-chain ownership with planned exchangeability to legacy Nasdaq-listed shares and on-chain stock lending via “Democratized Prime.”
“cut out intermediaries in public equity markets,” said Mike Cagney, co-founder and executive chairman at Figure.
Why Figure tokenized stock matters for investors and compliance
Tokenizing common equity can reduce settlement frictions by recording ownership, transfers, and corporate actions directly on-chain. If effective, investors could see faster settlement finality and improved auditability of positions and events.
Reports also describe on-chain stock lending that could return more economics to beneficial owners versus traditional prime-broker models. Exchangeability with legacy shares, if implemented as described, may help bridge liquidity between traditional and on-chain venues.
Regulatory obligations do not disappear. Tokenized shares remain subject to U.S. securities laws, so disclosures, transfer restrictions, and investor protections would still govern how FGRD is offered and traded.
At the time of this writing, broader markets were mixed. Based on data from Yahoo Finance, the S&P 500 index (^GSPC) was -0.28%, front-month crude (CL=F) +2.49%, and FIG +6.90%, with data noted as delayed.
Mechanics: OPEN, SEC rules, Nasdaq interplay
How OPEN records ownership, transfer, and settlement on-chain
OPEN is built so the ledger itself serves as the primary record of ownership. Transfers are validated on-chain, and settlement occurs as part of transaction finality, reducing reconciliation steps across separate registries and clearing layers.
Corporate actions, such as dividend accruals or splits, can be programmatically recorded to the same ledger, improving event transparency. Planned exchangeability with legacy shares would let holdings move between on-chain registration and traditional brokerage custody while preserving cap-table integrity.
SEC compliance and disclosures; Nasdaq market structure interplay
According to a staff statement from the U.S. Securities and Exchange Commission, tokenized securities remain subject to existing federal securities laws, including disclosure, transfer, custody, and investor-protection requirements. The same framework would apply whether records sit in a transfer agent’s database or on-chain.
Interplay with Nasdaq-listed shares hinges on maintaining market-structure continuity when crossing between environments. That typically involves recognized intermediaries and controls so that price discovery, settlement, and recordkeeping remain consistent across both forms.
FAQ about Figure tokenized stock
What is FGRD and how do Figure’s tokenized shares differ from synthetic stock tokens?
FGRD represents blockchain-native equity on OPEN; reports indicate actual share ownership, unlike derivative “stock tokens” that mirror prices without conferring shareholder rights.
Can retail investors buy Figure’s on-chain shares on OPEN, and what KYC/eligibility is required?
Public coverage has not detailed retail access. Expect standard securities-law KYC/AML and eligibility, with platform-specific onboarding for on-chain settlement.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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