Figure Technologies which operates the Provenance blockchain announced that its subsidiary Figure Securities has SEC approval as an Alternative Trading System (ATS). Last week it also became a FINRA approved broker-dealer. The company had previously unveiled its cap table management solution Adnales, which can now legally provide secondary market trading for private securities through the Figure Marketplace.
Additionally, Figure is targeting fund managers to enable limited partners to trade their holdings. Its website states that a loan marketplace is coming soon. We previously reported that Figure planned to launch a blockchain-based exchange to eliminate two-day settlement and counterparty risk.
“Being approved as a broker-dealer and being able to operate our ATS is a transformational event for our company that will have significant impact across the financial services sector,” said Mike Cagney, CEO and Cofounder of Figure.
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