Figure Launches FGRS, First SEC-Registered Blockchain-Native Stock.

New York, NY February 19, 2026 - Today, Figure Technology Solutions ("Figure", Nasdaq: FIGR), issues FGRS, its blockchain-native common stock, directly on the On-chain Public Equity Network (OPEN). FGRS is the first SEC-registered public equity to be natively issued and settled entirely on blockchain infrastructure, leveraging Figure's Alternative Trading System ("Figure ATS") for instantaneous trading. As the first equity to be issued on OPEN, FGRS shares enable shareholders to access DeFi capabilities via Democratized Prime. Starting today, users can buy, trade, lend and borrow FGRS in the Figure Markets app.

Through OPEN and Democratized Prime, equities can trade with near-instant settlement and real-time ownership verification, enabling shareholders to directly custody their shares and control on-chain stock lending and borrowing. Integrations with platforms such as Moomoo enable investors to trade OPEN-issued equities on regulated venues or in self-custodied wallets, expanding access while maintaining compliance and investor protections.

"Public equity still runs on decades-old market plumbing, and it simply doesn't make sense anymore," said Mike Cagney, Figure's Executive Chairman. "By issuing FGRS natively on-chain, we're re-architecting the core infrastructure of capital markets to be real-time, transparent, and programmable, while removing layers of intermediaries that add cost, risk, and friction."

With FGRS, Figure issues its common stock natively on-chain, instead of tokenized or mirrored representations, while also bypassing legacy systems like DTCC. OPEN records equities directly on a public blockchain, enabling real-time ownership, transfer, and T+0 settlement with atomic exchange of funds and shares. This reduces counterparty risk, reconciliation costs, and capital requirements, creating a more efficient, liquid, and resilient market.

"Today is the first step in building out the OPEN ecosystem. Figure has a history of seeding marketplaces with our own inventory, and building off that to launch robust partner networks and impressive volume scale. We're going to do the same with OPEN as we've shown the world what's possible," said Michael Tannenbaum, Figure's CEO. "With OPEN, we are demonstrating that regulated public equity can be issued, transferred, and settled entirely on blockchain infrastructure. This unlocks unprecedented shareholder communication and issuance strategies and enhanced economics, both of which will drive future issuance."

By moving core capital markets functions on-chain, Figure eliminates many of the structural inefficiencies of traditional systems, including delayed settlement, fragmented record-keeping, and costly intermediaries. These capabilities create a more efficient, transparent, and programmable market for public securities while reducing reliance on legacy intermediaries. FGRS also validates Figure's broader OPEN framework, which enables global access to on-chain capital markets.

Pantera Capital was one of the first institutions to participate in the FGRS offering, backing its mission to scale next-generation blockchain infrastructure.

Figure has originated over $22 billion in loans on public blockchains, establishing a track record of modernizing traditional financial markets through blockchain-based infrastructure. FGRS positions Figure at the forefront of the transition from batch-based financial systems to real-time, on-chain capital markets, setting a new standard for how public equity can be issued, traded and settled in a blockchain-native financial system.

About Figure Technology Solutions

Figure Technology Solutions, Inc. (Nasdaq: FIGR) is a blockchain-native capital marketplace that seamlessly connects origination, funding, and secondary market activity. More than 250 partners use its loan origination system and capital marketplace. Collectively, Figure and its partners have originated over $22 billion of home equity to date, among other products, making Figure's ecosystem the largest non-bank provider of home equity financing. The fastest growing components are Figure Connect, its consumer credit marketplace, and Democratized Prime, Figure's on-chain lend-borrow marketplace. Figure's ecosystem also includes DART (Digital Asset Registry Technology) for asset custody and lien perfection, and $YLDS, an SEC-registered yield-bearing stablecoin that is issued by a tokenized face-amount certificate company, which is a type of registered investment company.

Figure is the market leader in real world asset (RWA) tokenization and its most recent securitization received a AAA rating from S&P and Moody's, the first of its kind for blockchain finance. For more information, visit https://figure.com or follow Figure on LinkedIn.

The On-Chain Public Equity Network (OPEN) includes a variety of services offered by the Figure Group of companies, which include its Alternative Trading System ("Figure ATS") operated by FINRA/SIPC member Figure Securities, Inc.

Check the background of this firm on FINRA's BrokerCheck here: https://brokercheck.finra.org/firm/summary/307093

Figure Securities, Inc. is a wholly owned subsidiary of Figure Technology Solutions, Inc.

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