"Additionally, market makers will operate on-chain, and investors will be able to use shares as collateral and interchange them with Figure's Nasdaq-listed stock through the company's treasury. Figure said the blockchain-based structure will enable 24/7 trading, direct ownership through digital wallets and more transparent stock lending without brokers or centralized clearing firms. Holders will be able to lend or borrow shares through Democratized Prime, a decentralized finance protocol on Provenance, and can use the company's SEC-registered $YLDS stablecoin to settle transactions."
"CEO Michael Tannenbaum said the structure extends the company's work of applying blockchain to capital markets. This expansion integrates seamlessly into Figure's ecosystem, connecting our origination platform, alternative trading system and yield stablecoin to create a comprehensive, self-reinforcing marketplace for real-world asset finance, Tannenbaum said during the conference call. The blockchain native equity will be non-dilutive and available only to existing shareholders, with Figure minting new blockchain stock, Cagney and Tannenbaum confirmed."
Figure will issue blockchain-native equity that operates on-chain with market makers also operating on-chain. Investors can use shares as collateral and interchange blockchain shares with Figure’s Nasdaq-listed stock through the company treasury. The blockchain-based structure enables 24/7 trading, direct ownership through digital wallets, and more transparent stock lending without brokers or centralized clearing firms. Holders can lend or borrow shares via Democratized Prime, a DeFi protocol on Provenance, and settle transactions with Figure’s SEC-registered $YLDS stablecoin. Shareholders can vote directly on the blockchain. The blockchain native equity will be non-dilutive and available only to existing shareholders, with Figure minting new blockchain stock.
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