Investing.com -- Last month, Figure Technology Solutions Ltd (NASDAQ: FIGR) announced the launch of FGRD, the first SEC-registered common stock issued natively on a public blockchain. The company is now utilizing its On-Chain Public Equity Network (OPEN) to handle the full lifecycle of its shares without traditional intermediaries.

In an interview with Investing.com, Figure CEO Michael Tannenbaum elaborated on the regulatory hurdles of bypassing the Depository Trust & Clearing Corporation (DTCC). He explained that the company achieved this shift by working strictly within existing rules rather than seeking new legislation.

"We didn’t ask the SEC to approve blockchain," Tannenbaum said during the discussion. "We showed them blockchain could satisfy the rules they already had."

The new infrastructure allows for T+0 settlement, a significant acceleration from the T+2 standard currently used in traditional public markets. This change effectively eliminates the two-day settlement window and the counterparty risks associated with legacy market makers.

Tannenbaum noted that traditional settlement delays are an unnecessary holdover from an analog era. "T+2 is a workaround, not a feature," he told Investing.com while discussing the efficiencies of the Figure ATS.

The CEO compared the current inefficiency of public markets to the historical friction in the mortgage industry. He noted that by cutting out intermediaries, Figure previously reduced mortgage closing times from 45 days to just five and brought costs down from $12,000 to $1,000.

Tannenbaum hopes to replicate this success for trading, allowing for atomic settlement while mitigating risk. Regarding the technical risks of self-custody, the platform maintains a recoverable record of ownership through its transfer agent function.

"A lost key does not mean lost shares," Tannenbaum clarified to Investing.com to address concerns from retail investors. Recovery remains possible through identity verification, ensuring shareholders maintain access to their assets.

The growth strategy for the OPEN network relies on creating a "multi-issuer infrastructure" that appeals to a wide variety of corporate entities. Tannenbaum hinted that several companies are currently in the pipeline to issue their own equity natively on the chain.

“We’re seeing strong interest from companies looking to modernize how their equity operates," Tannenbaum said during the interview. He noted this includes both crypto-native and traditional firms looking to reward long-term holders.

The pitch to legacy brokers involves convincing them that customers will inevitably demand direct access to on-chain assets. "Connecting to the Figure ATS is not technically complex for a firm already plugged into dozens of execution venues," Tannenbaum noted.

Figure expects to see "meaningful progress" in these institutional integrations over the next 12 to 18 months. This timeline aligns with the broader push for modernized financial infrastructure.

The expansion of OPEN also focuses on broadening its multi-chain presence to tap into deeper global liquidity pools on networks like Ethereum or Solana. Tannenbaum indicated that while Provenance Blockchain serves as the current authoritative record, "chain-exclusivity is not permanent" for the ecosystem.

Unlike "tokenized" representations that merely shadow existing securities, this model provides investors with direct ownership of legitimate, registered equity. This distinction ensures that holders have immediate access to their funds and the ability to monetize their assets without waiting for legacy reconciliation.

This transition represents a foundational step toward a 24/7 global trading cycle that modern markets increasingly demand. While others have toyed with the concept, Figure is the only firm to successfully execute a natively on-chain model for public common stock.

The move coincides with a broader regulatory thaw, as the SEC under Chairman Paul Atkins fast-tracks proposals to make quarterly reporting optional for public companies. Major exchanges like the NYSE and Nasdaq are also weighing 23/5 and 24/7 trading windows to compete with the "always-on" nature of digital assets.

This shift marks a definitive step toward real-time capital markets that operate independently of legacy infrastructure. Figure expects more companies to follow this model as the cost savings of removing transfer agents and DTCC fees become more evident.