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Figure joins stock tokenization race with new trading platform backed by BitGo, Jump
📰 sources⭐ 9.0
TL;DR:
The blockchain lender's new OPEN platform hosts equities registered natively onchain, bypassing DTCC and allowing DeFi-based lending.
Key Points:
Background:
Decentralized Finance (DeFi) refers to financial services built on blockchain networks that operate without traditional intermediaries like banks. DeFi protocols enable lending, borrowing, trading, and earning yield on cryptocurrency assets through smart contracts.
Why It Matters:
DeFi represents a fundamental reimagining of the financial system, offering permissionless access to financial services globally. DeFi developments impact how value is exchanged, stored, and utilized in the crypto ecosystem, driving innovation in financial products and services.