Figure Updates Tokenized Stock Code to Align with SEC Registration

Figure, a blockchain capital market company, has updated its tokenized stock code from FGRD to FGRS. According to Foresight News, the company stated that this change aligns with the final registration by the U.S. Securities and Exchange Commission (SEC) and the listing information on Provenance Blockchain. The update does not affect security, ownership, or trading mechanisms. Previously, Foresight News reported via CoinDesk that Figure plans to issue a tokenized version of its stock on-chain. The stock token, initially named FGRD, will be issued, traded, and settled on Figure's Onchain Public Equity Network (OPEN), a platform for on-chain stocks and lending. This process eliminates the need for traditional clearing and custody systems, allowing stock token holders to engage in lending through Figure's DeFi marketplace.