Bernstein: Figure's first-quarter performance demonstrates the uniqueness of the blockchain market platform

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ME News report: On May 18 (UTC+8), Bernstein analysts said last week that Figure Technology Solutions’ first-quarter financial results show the company is rapidly becoming a distinctive presence in the blockchain market platform. The results released on May 11 significantly outperformed Wall Street expectations in both revenue and EBITDA. Its core business is converting real-world credit assets into blockchain-native tools that can be traded and financed on-chain.

Analysts believe Figure is building a blockchain-native capital markets ecosystem, fundamentally different from traditional fintech lending platforms based on a balance-sheet format, and expect its stock FIGR to become a real-time reflection of blockchain lending volume. In a research report dated May 15, Bernstein pointed out that real-time on-chain data indicates Figure is about to enter a record-breaking second quarter.

Co-founder Mike Cagney said the company’s Forge platform can convert whole loans into small, single-dollar liquidity participation units, solving the liquidity problem that RWA faces in DeFi. Bernstein previously estimated that the potential total annual market size for credit origination that could migrate to the chain is as large as $4 trillion, and that the current tokenized credit market is about $5.14 billion. (Source: ChainCatcher)

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