Figure Technology Solutions announced the launch of its On‑Chain Public Equity Network (OPEN) on January 14, 2026, creating a blockchain‑native platform that lets companies list and trade equity directly on the Provenance Blockchain.
OPEN operates a limit‑order book that supports continuous trading and integrates Figure’s Democratized Prime, allowing shareholders to borrow against or lend out their stock without a traditional prime broker. Market makers Jump Trading and custodian BitGo provide liquidity and custody services for the network.
The launch extends Figure’s regulatory moat and opens a high‑margin revenue stream. The company has already originated over $20 billion in loans on public blockchain, with total loan origination reaching $21 billion. Figure Connect, the company’s consumer‑loan marketplace, recorded $2.7 billion in volume in Q4 2025, $869 million in December 2025, $1.1 billion in Q3 2025, and $767 million in Q3 2024—representing roughly 46 % of the consumer‑loan marketplace volume in Q4 2025.
Figure’s financial performance underscores the strength of its business model. The company went public on September 12, 2025. In the first half of 2025, revenue was $190.6 million and net income $29 million. Q3 2025 results showed net revenue of $156 million, net income of $90 million, and an adjusted EBITDA margin of 55%, reflecting strong execution and operational leverage.
Mike Cagney, Figure’s Executive Chairman, said, “OPEN reinvents equity trading. The significant benefits over the centralized incumbent model incent companies to use OPEN and their investors to demand it.” The platform positions Figure to capture a new segment of public‑equity trading and could reshape how public companies raise capital and how investors trade shares.
Analysts viewed the launch as a positive development, citing Figure’s robust performance in tokenized credit and its expanding ecosystem. The announcement aligns with the company’s trajectory toward a fully on‑chain capital marketplace.
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