Figure is debuting its tokenized stock along with upsized $150 million offering

The FGRD token represents communal shares of the institution issued natively onchain with instant colony and built-in lending tools.

Feb 19, 2026, 1:27 p.m.

Figure Technology Solutions (FIGR), the blockchain institution helmed by ex-SoFi CEO Mike Cagney, is debuting Thursday a new, tokenized people of its banal that trades wholly connected blockchain rails cutting retired accepted intermediaries, the steadfast told CoinDesk.

The banal token, dubbed FGRD, volition beryllium disposable connected Figure’s Onchain Public Equity Network (OPEN), wherever it is issued, traded and settled without relying connected the accepted clearing and custody systems that underpin astir of Wall Street.

Instead, FGRD transactions are recorded and finalized straight connected a blockchain, allowing for faster execution and programmable compliance, the institution said.

Investors tin entree the plus done the Figure Markets app and self-custody wallets integrated with the network. Investors volition besides beryllium capable usage their banal tokens for lending oregon borrowing done Figure's decentralized concern protocol Democratized Prime.

Figure operates a blockchain-native superior markets level that connects indebtedness origination, backing and secondary trading. The institution has originated implicit $22 cardinal successful location equity loans and offers tools for integer plus custody, tokenization and onchain output products. Its infrastructure is utilized by banks, recognition unions and fintechs to bring accepted assets onto nationalist blockchains.

Tokenized equities — integer versions of accepted stocks that commercialized connected blockchain rails — person drawn attraction precocious for their imaginable to trim colony risk, amended transparency and summation marketplace access. Most are backed by offchain assets and beryllium connected intermediaries to bespeak real-world ownership. FGRD differs successful that it is issued natively onchain, representing the existent equity alternatively than a derivative oregon proxy.

"Public equity inactive runs connected decades-old marketplace plumbing, and it simply doesn’t marque consciousness anymore," said Mike Cagney, enforcement president of Figure.

"By issuing FGRD natively onchain, we’re re-architecting the halfway infrastructure of superior markets to beryllium real-time, transparent, and programmable, portion removing layers of intermediaries that adhd cost, risk, and friction," helium added.

Figure's tokenized banal debut comes amid the company's secondary nationalist offering, which was upsized to $150 million. Venture steadfast Pantera Capital participated successful the deal. The steadfast besides said to repurchase $10 cardinal of its communal banal from existing shareholders.

Figure went nationalist successful September, with its shares erasing gains implicit the past period arsenic crypto prices tumbled.

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