Figure Tests Future of Trading With Blockchain Stock Launch
The company, which is a blockchain-native capital marketplace for tokenized assets, said in a November press release that it had filed a registration statement with the Securities and Exchange Commission (SEC) regarding the proposed offering of its Blockchain Stock.
Figure said in the November release that the Blockchain Stock would be a blockchain-native class of equity securities, would trade on the company’s alternative trading system and would be convertible into shares of Figure’s Class A Common Stock on a one-for-one basis.
The company added that the Blockchain Stock would use a blockchain-only securities stack, with the security being issued on the Provenance Blockchain, trading on Figure’s non-custodial alternative trading system and settling in self-custody user wallets.
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Figure said in the November release that the Blockchain Stock would be a blockchain-native class of equity securities, would trade on the company’s alternative trading system and would be convertible into shares of Figure’s Class A Common Stock on a one-for-one basis.
The company added that the Blockchain Stock would use a blockchain-only securities stack, with the security being issued on the Provenance Blockchain, trading on Figure’s non-custodial alternative trading system and settling in self-custody user wallets.
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