Figure Debuts FGRD as the Premiere SEC-Approved Blockchain-Based Public Equity

In an innovative move, Figure Technology Solutions has unveiled FGRD, marking a significant milestone as the inaugural public equity to be fully registered with the SEC, with its issuance, trading, and settlement processes all conducted on a blockchain platform, achieving real-time (T+0) settlement. This groundbreaking development positions FGRD as a trailblazer in leveraging blockchain technology for financial transactions.

Launched on February 19 by the New York-headquartered Figure Technology Solutions, FGRD represents a pivotal shift in how stocks are handled, being directly issued on the blockchain via the Onchain Public Equity Network. This approach not only revolutionizes the concept of public equities by embedding them within the blockchain ecosystem but also streamlines the trading and settlement process, significantly reducing the timeframe to immediate finality.

By operating entirely on the blockchain, FGRD circumvents the traditional clearinghouse mechanisms, notably sidestepping the Depository Trust & Clearing Corporation (DTCC). This direct onchain strategy not only enhances the efficiency of stock trades and settlements but also introduces a new paradigm in the public equity space, setting a precedent for future blockchain-based financial innovations.