Figure CEO: Blockchain will reshape Wall Street's "financial pipelines," with traditional intermediaries potentially being massively replaced

ME News Report, May 3rd (UTC+8), Figure Technology Solutions CEO Mike Cagney stated that the company is seeking to reshape the infrastructure of the traditional credit market through blockchain, aiming to closely integrate real-world assets, securitization, and decentralized finance (DeFi). According to statistics, Figure’s loan issuance volume in March this year first exceeded $1 billion, with total lending in the first quarter reaching $2.9 billion, an annualized figure of approximately $12 billion. Cagney pointed out that the company’s goal is to reduce intermediaries in securitization and lending processes through on-chain operations, lowering costs and increasing liquidity. Currently, Figure has launched yield-bearing stablecoin YLDS and introduced on-chain credit vault products on networks like Solana, allowing users to invest in or collateralize tokenized credit assets. The company also plans to enter the Ethereum ecosystem to explore stock tokenization and on-chain securities lending. Cagney emphasized that the true value of blockchain lies in reconstructing the financial abstraction layer, which can lead to a comprehensive overhaul of financial infrastructure. (Source: MLion)