ByInvesting.com

Company News

Published 21/02/2026

© Reuters.

BTGO

-0.85%

NEW YORK - BitGo Holdings, Inc. (NYSE:BTGO) and Figure Technology Solutions, Inc. (NASDAQ:FIGR) completed the first blockchain-native equity trades through their integrated infrastructure, according to a press release statement issued today. The milestone comes as BitGo, with a market capitalization of $1.23 billion, trades at $10.60 per share, down 43% over the past six months amid broader volatility in blockchain infrastructure stocks.

The trades were executed on Figure’s Alternative Trading System within its Onchain Public Equity Network (OPEN), which launched in February 2026. OPEN operates on the Provenance Blockchain and enables companies to issue and trade equity on blockchain infrastructure.

BitGo Bank & Trust, N.A. serves as a qualified custodian for OPEN, providing regulated custody for assets within the trading framework. The completed transactions involved tokenized equities operating in a continuous, on-chain environment with real-time settlement.

The infrastructure combines Figure’s blockchain-native trading venue with BitGo’s regulated custody services. Trading and settlement occur within the Figure ATS, operated by FINRA/SIPC member Figure Securities, Inc., with trade records published on-chain.

"At BitGo, our goal is to provide institutions the infrastructure and ability to trade, secure and build on anything on-chain," said Mike Belshe, CEO of BitGo.

Mike Cagney, Figure’s Executive Chairman, stated that partnering with BitGo "brings qualified custody and institutional-grade controls to the OPEN on-chain public equity network."

The framework maintains separation between custody and execution functions. BitGo and Figure state the model is designed for broker-dealers and asset managers seeking exposure to blockchain-native equity products.

Figure Technology Solutions operates a blockchain-native capital marketplace used by more than 250 partners. The company and its partners have originated over $22 billion of home equity financing to date.BitGo remains profitable with earnings per share of $0.95 over the last twelve months, though InvestingPro analysis suggests the stock is currently overvalued relative to its Fair Value. The company reports earnings in five days on February 25, with analysts maintaining a consensus Buy rating.

In other recent news, BitGo Holdings is set to issue a U.S. dollar-backed stablecoin named FYUSD, targeting institutional users in Asian markets. This stablecoin will be issued by BitGo Bank & Trust and is structured to align with the GENIUS Act framework, focusing on regions such as Hong Kong, Singapore, and Japan. In addition to this development, several analyst firms have initiated coverage of BitGo Holdings. Craig-Hallum has given BitGo a Buy rating, citing its position as a full-scale platform provider for digital assets. Similarly, Rosenblatt Securities has also initiated coverage with a Buy rating, emphasizing the company’s focus on institutional customers and security services. Wedbush has rated BitGo as Outperform, highlighting its robust infrastructure for digital asset solutions. Canaccord Genuity has also initiated coverage with a Buy rating, noting BitGo’s strength in institutional digital asset custody and its provision of $250 million in account insurance. These recent developments reflect growing confidence in BitGo’s role in the evolving digital asset market.

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