Figure Launches FGRD Tokenized Stock in Upsized $150M Offering
Figure has launched FGRD, an on‑chain native token representing the company’s common shares, as part of an upsized $150 million offering announced Thursday. The token delivers instant settlement on-chain and integrated lending functionality, enabling holders to settle trades immediately and use FGRD as collateral for borrowing without moving assets off-chain. Company comments and the upsizing suggest strong demand from investors seeking direct, programmable equity exposure.
The move highlights the practical advantages of tokenized equities—faster settlement, greater composability with DeFi and potential liquidity improvements—but also tests existing market infrastructure like custodians and compliance processes. For investors, FGRD opens new yield and leverage strategies while bringing custody and regulatory considerations into focus; how custodians, exchanges and regulators respond will influence whether tokenized stocks move from niche use cases into mainstream portfolios.