BitGo and Figure Complete First Tokenized Equity Trades on Figure's Alternative Trading System
MWN-AI** Summary
BitGo Holdings, Inc. and Figure Technology Solutions, Inc. have achieved a significant milestone by executing the first blockchain-native equity trades through Figure’s Alternative Trading System (ATS). This groundbreaking collaboration combines BitGo’s regulated bank infrastructure with Figure’s innovative blockchain trading venue, thereby creating a scalable framework for trading public equities on-chain.
These trades took place within Figure’s Onchain Public Equity Network (OPEN), which operates on the Provenance Blockchain and enables direct equity issuance and trading in a single cohesive environment. BitGo Bank & Trust, N.A. serves as a qualified custodian, ensuring regulated asset custody within this trading ecosystem. This integration highlights how tokenized equities can function seamlessly within a continuous on-chain framework, maintaining robust risk management and regulatory compliance.
The trades realized through the Figure ATS allow for real-time settlements in a controlled environment, promoting efficiency by decreasing the layers of intermediated reconciliation that characterize traditional markets. This BitGo-Figure model is significant, as it introduces possibilities for reduced operational costs and enhanced capital efficiency.
By maintaining distinct functions for custody and execution, the framework upholds traditional market structures while embracing the transformative potential of blockchain technology. BitGo's CEO Mike Belshe emphasized the company's mission to provide comprehensive digital asset trading infrastructure, while Figure's Executive Chairman Mike Cagney shared that this partnership enhances engagement in blockchain-native equities for regulated participants.
Overall, this collaboration not only signifies advancement in the tokenization of public equities but also represents a step toward modernizing the trading and settlement mechanisms within capital markets, blending traditional finance with the advantages of blockchain innovation.
MWN-AI** Analysis
The recent successful execution of blockchain-native equity trades by BitGo and Figure marks a pivotal moment in the integration of traditional finance with blockchain technology. By leveraging Figure's Alternative Trading System (ATS) and BitGo Bank & Trust's regulated infrastructure, this initiative introduces a scalable approach for public equities to trade and settle in a decentralized environment, promising enhanced efficiency and reduced costs.
Investors and market analysts should pay close attention to this development as it exemplifies a significant shift towards “tokenized equities,” which streamline trading processes by minimizing intermediaries, thus reducing operational overheads. The utilization of the Provenance Blockchain allows for real-time settlement and transparency, addressing longstanding issues such as reconciliation delays and counterparty risks. This technology enables smoother trading experiences and could potentially attract institutional investors looking for reliability in compliance and operational assurance.
Moreover, with BitGo acting as a qualified custodian, the partnership reinforces the safety net that traditionally has been a concern in the nascent blockchain space. The characteristic separation of custody and execution mitigates risks, making this model appealing for broker-dealers and asset managers looking to diversify into blockchain-native products.
While the promise of efficiency and regulatory compliance is compelling, market participants are urged to remain cautious. Understanding the regulatory landscape and integrating blockchain properly into existing frameworks will be critical as more commercial entities look to join this space. As this infrastructure matures, institutions that embrace these advances could stand to gain a competitive edge, but they must also navigate the associated risks carefully.
In summary, the BitGo-Figure partnership is a beacon for the future of trading in public equities. Investors should consider positioning themselves strategically to take advantage of the emerging efficiencies while remaining vigilant about the evolving regulatory landscape.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Milestone advances regulated, blockchain-native market infrastructure for public equities
BitGo Holdings, Inc., the digital asset infrastructure company (NYSE: BTGO) (“BitGo”), and Figure Technology Solutions, Inc. (“Figure”), a blockchain-native capital marketplace, today announced the completion of the first blockchain-native equity trades executed through their integrated infrastructure for blockchain-native equities on Figure’s Alternative Trading System (ATS).
The milestone brings together BitGo Bank & Trust, N. A.’s regulated infrastructure with Figure’s blockchain-native trading venue, establishing a scalable framework for issuing, trading, and settling public equities on-chain.
The trades occurred within Figure’s Onchain Public Equity Network (OPEN) , which includes a regulated electronic trading venue operating on the Provenance Blockchain, the Figure ATS. Launched in February 2026, OPEN enables companies to issue and trade equity directly on blockchain rails, embedding issuance, trading, and settlement into a unified on-chain environment.
BitGo Bank & Trust, N. A. serves as a qualified custodian for OPEN, providing regulated custody to safeguard assets within the broader trading framework.
The completed trades demonstrate how tokenized equities can operate in a continuous, on-chain environment without compromising on risk management or regulatory standards. Trading and settlement occur efficiently within the Figure ATS, with real-time settlement activity occurring within a regulated framework and trade records published on-chain.
By reducing layers of intermediated reconciliation, the BitGo–Figure model introduces the potential for lower operational overhead and improved capital efficiency compared to traditional batch-based market infrastructure. Custody also remains distinct from execution, preserving the separation of duties and counterparty risk protections that underpin traditional market structure and protect participants.
“At BitGo, our goal is to provide institutions the infrastructure and ability to trade, secure and build on anything on-chain,” said Mike Belshe, CEO of BitGo. “Our partnership with Figure moves the industry in that direction with BitGo operating as the independent trust layer to reduce risk, increase transparency and instill confidence in continuous markets.”
“Partnering with BitGo brings qualified custody and institutional-grade controls to the OPEN on-chain public equity network, making it easier for regulated participants to engage with blockchain-native equities,” said Mike Cagney, Figure’s Executive Chairman. “With instant settlement on Provenance and the potential to meaningfully reduce market-structure friction and costs, this is a concrete step toward modernizing how public equities trade and settle.”
Together, BitGo and Figure have established a repeatable integration model for broker-dealers and asset managers seeking exposure to blockchain-native equity products. The framework blends the governance and counterparty protections of traditional finance with the efficiency, transparency, and programmability of blockchain-based settlement, advancing the evolution of regulated, on-chain public markets.
About BitGo
BitGo (NYSE: BTGO) is the digital asset infrastructure company delivering custody, wallets, staking, trading, financing, stablecoins, and settlement services from regulated cold storage. Since 2013, BitGo has focused on accelerating the transition of the financial system to a digital asset economy. BitGo maintains a global presence and multiple regulated entities, including BitGo Bank & Trust, National Association, a federally chartered trust bank. Today, BitGo serves thousands of institutions, including many of the industry's top brands, financial institutions, exchanges, and platforms, and millions of investors worldwide. For more information, visit www.bitgo.com .
About Figure Technology Solutions, Inc.
Figure Technology Solutions, Inc. (Nasdaq: FIGR) is a blockchain-native capital marketplace that seamlessly connects origination, funding, and secondary market activity. More than 250 partners use its loan origination system and capital marketplace. Collectively, Figure and its partners have originated over $22 billion of home equity to date, among other products, making Figure’s ecosystem the largest non-bank provider of home equity financing. The fastest growing components are Figure Connect, its consumer credit marketplace, and Democratized Prime, Figure’s on-chain lend-borrow marketplace. Figure's ecosystem also includes DART (Digital Asset Registry Technology) for asset custody and lien perfection, and , an SEC-registered yield-bearing stablecoin that is issued by a tokenized face-amount certificate company, which is a type of registered investment company.
Figure is the market leader in real world asset (RWA) tokenization and its most recent securitization received a AAA rating from S&P and Moody’s, the first of its kind for blockchain finance. For more information, visit https://figure.com or follow Figure on LinkedIn .
Nothing in this release should be construed as Figure offering or soliciting the purchase or sale of any digital asset or providing investment, legal, or tax advice.
The On-Chain Public Equity Network (OPEN) includes a variety of services offered by the Figure Group of companies, which include its Alternative Trading System (“Figure ATS”) operated by FINRA/SIPC member Figure Securities, Inc.
Figure Securities, Inc. is a wholly owned subsidiary of Figure Technology Solutions, Inc.
Check the background of this firm on FINRA's BrokerCheck here: https://brokercheck.finra.org/firm/summary/307093
View source version on businesswire.com: https://www.businesswire.com/news/home/20260220153451/en/
Media
BitGo
press@bitgo.com
Figure
press@figure.com
FAQ**
How does the integration between BitGo Holdings Inc. Class A BTGO and Figure Technology Solutions, Inc. enhance the security and efficiency of trading on the On-Chain Public Equity Network (OPEN)?
What specific measures has BitGo Holdings Inc. Class A BTGO implemented to ensure compliance with regulatory standards while operating in a blockchain-native trading environment?
In what ways can BitGo Holdings Inc. Class A BTGO leverage its custody services to attract more institutional investors to blockchain-native public equity trading?
How does the partnership between BitGo Holdings Inc. Class A BTGO and Figure aim to reduce market-structure friction and operational overhead in the trading of tokenized equities?
**MWN-AI FAQ is based on asking OpenAI questions about BitGo Holdings Inc. Class A (NYSE: BTGO).
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