The FGRD token represents common shares of the company issued natively onchain with instant settlement and built-in lending tools.
The Wall Street broker said that the regulatory momentum and a volatile banking backdrop are amplifying demand for Figure’s blockchain-based credit platform.
The newly public blockchain lender earns praise for market share in tokenized credit, but concerns remain over scaling and regulation.
Figure Technologies is seeking to raise as much as $526 million at a valuation over $4 billion through the share sale.
The move follows a confidential SEC submission earlier this month and comes amid a surge of digital asset firms tapping the equity markets.
Figure is joining a growing roster of digital asset companies seeking to go public amid booming crypto and stock markets.
The YLDS stablecoin, backed by prime money market funds, offers daily interest and 24/7 peer-to-peer transfers.
What appears to be another post-FTX trading and custody play with institutions in mind, is really all about visionary disruption.