Figure launches tokenized stock FGRD

Blockchain-based online lending platform Figure has announced the launch of its stock token, FGRD. According to CoinDesk, FGRD is offered on Figure's on-chain public equity network, OPEN. Investors can invest in FGRD through the Figure Markets app and a network-integrated self-custody wallet. The stock token can also be used as collateral for loans on the DeFi protocol Democratized Prime.