What’s fueling this rally? Is the blockchain technology really that transformative? Absolutely. Figure’s blockchain-based platform processes home equity lines of credit (HELOCs) at a fraction of the time and cost compared to traditional lenders. What about the stock lending platform launch? This represents a potential game-changer. On January 15, 2026, Figure unveiled OPEN, which allows companies to issue equity directly on Figure’s Provenance blockchain.
Unlike synthetic tokenized stocks, OPEN’s tokens represent actual equity ownership that shareholders can lend or borrow against, completely bypassing traditional intermediaries like prime brokers, custodians, and exchanges. Figure plans to be the first company to issue equity on OPEN, having filed a public registration statement in November 2025, with OPEN-listed shares expected to be exchangeable with its Nasdaq-listed stock. Market participants, including Jump Trading and BitGo have already begun onboarding to provide market support and custody services.
The firm highlighted that Figure’s blockchain-based tokenized credit platform drove 46% of Q4’s $2.7 billion loan volume and achieved over 130% year-over-year growth despite December traditionally being a slower period. Regulatory tailwinds from the proposed Clarity Act can provide a much-needed regulatory framework for blockchain-based financial products. The tokenization of real-world asset markets has reached $19.38 billion in distributed value, with blockchain enabling 24/7 secondary markets and reducing transaction costs from 5-8% to 0.1-0.5%.
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