Figure has submitted an application to the SEC to tokenize stocks on Solana.

December 12th — At the Solana Breakpoint Conference, Figure’s Executive Chairman Mike Cagney announced: “Roughly a week and a half back, we rolled out another update—essentially a second IPO. We’re issuing a new iteration of Figure equity natively on a public blockchain.” “This issuance skips the DTCC, won’t trade on Nasdaq or the NYSE, doesn’t rely on referral brokers like Robinhood, and won’t use prime brokerage services from firms like Goldman Sachs.” “This is a blockchain-native security, listed on Figure’s proprietary Alternative Trading System (ATS)—essentially a decentralized platform for self-custody, self-trading, and a self-regulated market.” “Investors can link these securities to an ATS wallet (instead of a traditional referral brokerage account) and use the equity in DeFi for activities like collateralized borrowing and lending.”