Figure Technologies Launches Secondary Offering of 4.23 Million Blockchain-Native Shares
Dubai, UAE – February 14, 2026
Figure Technology Solutions Inc. announced a proposed secondary public offering of up to 4.23 million shares of its Series A Blockchain Common Stock to enable trading on its proprietary blockchain-based alternative trading system. The offering aims to revolutionize share trading infrastructure by shifting from traditional exchanges like Nasdaq to Figure’s On-Chain Public Equity Network (OPEN), launched in January 2026.
Announcement Specifics
A group of selling shareholders is offering 4,230,000 shares of blockchain-native stock. Goldman Sachs & Co. LLC, Morgan Stanley, and Cantor serve as lead joint book-running managers for the transaction. Subject to completion, Figure plans to repurchase up to $30 million in Class A common stock from underwriters at the offering price. Marketing commenced February 13, 2026, with pricing details undisclosed.
Stakeholder Perspective
“OPEN reinvents equity trading. The significant benefits over the centralized incumbent model incent companies to use OPEN and their investors to demand it.”
— Mike Cagney, Executive Chairman at Figure Technologies
Why it matters: This positions Figure’s approach as blockchain-native registration rather than mere tokenization, targeting fundamental infrastructure disruption in equity markets.
Industry Context
Figure, founded by former SoFi CEO Mike Cagney, went public on Nasdaq in September 2025, raising $787.5 million. The company has originated over $21 billion in home equity loans via blockchain technology. The OPEN network, built on Provenance Blockchain, enables native on-chain equity issuance with support from partners including BitGo and Jump Trading.
This initiative joins the broader institutional race toward blockchain-based assets and real-world asset tokenization. While no direct MENA operations were disclosed in this announcement, the development could influence regional fintech hubs in Riyadh, Dubai, and Abu Dhabi that are advancing their own tokenization frameworks and digital asset infrastructure.
Conclusion
Figure’s blockchain-native shares could establish a precedent for more efficient and transparent equity markets globally. The immediate next step involves completion of the secondary offering, followed by expanded institutional adoption of the OPEN network for on-chain equity trading.
Sources: Bloomberg, Futunn News, MarketScreener, Nasdaq
