- Figure submits second filing with SEC
- Plans to list stock directly on Solana blockchain
- Move could set a precedent for blockchain-based equities
Figure Technologies, a fintech firm leveraging blockchain , has filed a second Initial Public Offering (IPO) request with the U.S. Securities and Exchange Commission (SEC). This time, the company has a bold new goal — it aims to become the first company to issue its stock directly on the Solana blockchain.
This filing marks a significant shift from traditional equity offerings and signals how blockchain could soon become a foundational layer for the public markets. Figure had previously submitted an IPO request in 2023, but this new filing highlights a novel approach, potentially revolutionizing how stocks are traded and recorded.
Solana to Power a New Kind of Stock Market
What makes this filing special is not just the company involved — it’s how they plan to do it. Rather than using traditional Wall Street infrastructure, Figure wants to leverage Solana, a high-speed, low-cost blockchain network.
Solana is well-known in the crypto world for its scalability and efficiency. By issuing stock on-chain, Figure aims to reduce settlement times, cut down on middlemen, and increase transparency in equity markets. If approved, this move could set the stage for a new era where blockchain becomes the backbone of the stock market .
A Regulatory Milestone in the Making
The SEC’s response will be closely watched by both crypto advocates and financial institutions. If the filing is approved, it could be a milestone for blockchain adoption in traditional finance. It would also mark Solana’s entrance into the regulated equities space, giving it an edge over other blockchains in the race for real-world asset tokenization.
For investors, this development could mean faster trade settlements and greater accessibility. For the industry, it may open the doors to a wave of similar initiatives looking to follow in their footsteps.
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