Mike Cagney 2.5 1 idea

Figure launched "OPEN," a blockchain-native platform allowing companies to list stocks directly on-chain, bypassing the DTCC. This allows for 24/7 trading, immediate settlement, and the use of digital asset treasuries to stabilize NAV. It represents a structural shift in equity market plumbing. LONG FIGURE (recently public as of Jan 2025 per transcript) as a first-mover in blockchain-native equity listing. Regulatory pushback from the SEC regarding non-DTCC clearing.