Figure joins stock tokenization race with new trading platform backed by BitGo, Jump

Figure has unveiled a new trading platform named OPEN, supported by BitGo and Jump, aimed at stock tokenization. This platform registers equities natively on-chain, bypassing the traditional clearing system of DTCC, thus allowing for DeFi-based lending. This innovation is expected to alleviate traditional financial constraints, enabling rapid and efficient stock transactions. With enhanced liquidity through DeFi, the platform opens broader options for investors. As many companies express interest in this space, Figure's platform is poised to play a critical role in the competitive tokenization market, which is seen as a significant development point amid the continuing growth of the crypto asset sector.