Figure Founder Predicts Blockchain Will Reshape Wall Street’s Credit Infrastructure

Odaily reported that Mike Cagney, founder of Figure Technology Solutions (FIGR), stated that the company is driving the reconstruction of the underlying infrastructure of the traditional credit market through blockchain, moving loans, real-world assets (RWA), and even stocks onto the chain. The goal is to free credit flows from the traditional intermediary system and establish them as "new infrastructure for Wall Street." Data shows that Figure's monthly loan origination volume exceeded $1 billion for the first time in March this year, with total origination volume reaching $2.9 billion in the first quarter of 2026, representing an annualized scale of approximately $12 billion.

Mike Cagney pointed out that loan tokenization can significantly reduce securitization costs and lower traditional intermediary fees. At the same time, it enhances market liquidity through continuous real-time credit market updates and enables on-chain credit assets to directly access the DeFi ecosystem, expanding the range of investor participation. Its subsidiary, Forge platform, can package loans into standardized asset pools and convert them into tokens that can be used as collateral in DeFi protocols.

Currently, Figure has advanced related business within the Solana ecosystem and plans to expand to Ethereum. Additionally, the company has launched YLDS, a yield-bearing stablecoin with a scale of approximately $600 million, backed by traditional assets such as U.S. Treasuries. It is also exploring stock tokenization and on-chain staking lending. Mike Cagney stated that blockchain will become one of the most transformative technologies and will redefine the structure of future financial markets. (CoinDesk)