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Points of Focus
- VerifyMe’s Sept. 24 vote could advance a Figure OPEN listing.
- Different share rights and conversion delays could keep prices apart.
- More trading hours will need enough buyers and sellers.
VerifyMe is asking shareholders to back its potential Figure OPEN listing alongside the combined company’s planned Nasdaq listing after its OpenWorld merger. The Sept. 24 vote would help make the plan move forward, though a launch is not yet guaranteed.
An important step toward bringing the combined company’s equity onchain through Figure OPEN, alongside its anticipated Nasdaq listing.
Read the latest update: https://t.co/Cngmw6oDAH
— Open World (@_openworld) September 17, 2026
The company said onchain venue could attract more investors and improve liquidity, but its merger filing states that trading could split across markets and prices could vary.
One company, different share rights
The group’s August proxy statement shows that blockchain shares would differ from its normal stock. Proposal 6 would allow up to 500 million blockchain shares, though their owners would not automatically get a vote on company decisions. The share’s final terms or the company board would decide that.
No blockchain shares would be issued when the merger closes, however, as the board would need to look into this further and ensure shares meet legal requirements.
It’s important to note that tokenized shares might give users voting rights and could even be easier to sell, meaning they might pay more for the offering. That said, the tokenized stock plan might only improve trading if investors can move between the two share types.
Moving shares is the hard part
The plan calls for investors to exchange one tokenized share for a regular one, but several steps and third-party firms may get involved, which means converting the shares and completing a sale could take longer than a typical business day.
For example, imagine a tokenized share costs $9.80 while a regular share costs $10. A trader could buy the cheaper share, convert it, and try to sell it for $10 — also known as arbitrage. Traders making these deals can help bring the two prices closer together.
But prices could change during this wait time, eliminating the potential $0.20 profit. Fees could also shrink this, which is why the speed and cost of converting shares is important.
To participate, investors must also use approved wallets and abide by Anti-Money Laundering (AML) checks.
A Canadian Forum for Financial Markets report elaborates on such a problem. Shares with different rights, or shares that are hard to move between markets, could leave buyers and sellers stranded across separate venues, making trading harder.
Longer hours need willing traders
VerifyMe said investors could trade outside normal hours, meaning they can react to news while Nasdaq is closed. But traders trying to profit from price gaps might have to wait for Nasdaq to reopen. The Financial Industry Regulatory Authority warns, however, that extended trading hours can bring fewer buyers and sellers and sharper price swings.
OPEN could improve liquidity by attracting new buyers and sellers, but moving existing traders between venues could thin each market.
Everyone should be able to access high-quality financial assets, wherever they live.
That's what tokenization unlocks: taking the best of US capital markets and making them available on a global scale.
The industry is still small compared with global finance, but the advantages…
— Vlad Tenev (@vladtenev) September 5, 2026
Success is measured best via trading fees, the number of shares available to buy or sell, and how long conversions take. These metrics would show if VerifyMe’s pitch makes shares easier to sell.
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