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Figure CEO: Blockchain will reshape Wall Street's "financial pipelines," with traditional intermediaries potentially being replaced on a large scale
BlockBeats News, May 3rd, Figure Technology Solutions CEO Mike Cagney stated that the company is attempting to leverage blockchain to reconstruct traditional credit market infrastructure and deeply integrate real-world assets (RWA), securitization, and DeFi.
Data shows that Figure’s loan issuance volume first exceeded $1 billion in a single month this March, with a total lending volume of $2.9 billion in the first quarter, which is approximately $12 billion on an annualized basis. Cagney said that the company’s goal is to reduce intermediaries in securitization, lending, and stock lending markets through on-chain processes, lowering costs and increasing liquidity.
Currently, Figure has launched a yield-bearing stablecoin YLDS and deployed on networks like Solana with on-chain credit vault products, allowing users to invest in tokenized credit assets or use them as collateral for borrowing. The company also plans to expand to the Ethereum ecosystem and explore stock tokenization and on-chain securities lending.
Cagney believes that the true value of blockchain is not in “putting everything on-chain,” but in reconstructing the financial abstraction layer. “Loans, securities, equity, and other financial assets are naturally suitable for on-chainization, and the entire financial infrastructure may be rewritten as a result in the future.”