Mike Cagney’s second act: Turning blockchain into Wall Street’s new plumbing
CoinDesk
Mike Cagney’s Figure Technology Solutions is leveraging blockchain to streamline credit markets, achieving $1 billion in monthly loan originations through asset tokenization.Summary
Mike Cagney, co-founder of SoFi, is transforming credit markets through his company, Figure Technology Solutions (FIGR). By tokenizing loans and assets, Figure reduces costs and removes intermediaries, creating a more efficient and liquid marketplace. The company recently achieved $1 billion in monthly loan originations, utilizing decentralized finance (DeFi) protocols to offer greater transparency and access to investors. Beyond consumer credit, Figure is exploring tokenized equities and yield-bearing stablecoins, aiming to replace traditional financial infrastructure with more efficient blockchain-based systems.
(Source：CoinDesk)