Building the future of capital markets on blockchain | Figure Technologies Solutions, Inc. is responsible for this page | Proudly built on @provenancefdn
New York, NY
Joined July 2018
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Figure retweeted
Originators traditionally post loans into a bank’s warehouse facility, then draw against it to fund new loans.
@Figure built Prime to open that to everyone.
The Home Equity pool yields 6.5% today, and deposits can be made composable with DeFi via @HastraFi.
Ep. 03 of Conviction with @Solofunk is live.
Our guest is @reidlikeabook, President, Digital Assets at @Figure.
His Conviction: Collateral mobility is the hallmark of efficient markets.
"Our focus is not trapping you from an economics perspective. It's bringing a better and cheaper experience. And if it isn't, feel free to move it somewhere else."
"Looping is not some DeFi only concept. If you look at treasuries in prime brokerages in TradFi, those are levered infinitely more times."
"Because we do a securitization at the end of every month, we have this captive demand from institutions to buy these loans. You're not stuck with the collateral asset. The collateral asset is just waiting to be sold."
"What would prove or disprove my argument would be that it is not possible to finance assets cheaper onchain through the structures that we've put together versus traditional markets."
Figure retweeted
🚨NEW: Wall Street is talking up tokenization, but @Figure’s President of Digital Assets @reidlikeabook says much of it is “lip service.”
He joins us to explain why putting a big name on an onchain product doesn’t make it useful and why lending could be where crypto proves its worth.
We also explore whether bringing loans onchain can make borrowing cheaper for homeowners and how Figure is preparing for a potential swing of the political pendulum back against crypto.
Timestamps:
00:00 Meet Reid Simon of Figure
00:27 Breaking Down Wall Street's Financial Barriers
03:24 How Figure's Onchain Lending Model Works
09:09 Can Blockchain Make Home Equity Loans Cheaper?
13:36 Figure's $5.1 Billion Loan Marketplace Growth
14:41 What Crypto Lending Learned From the 2022 Collapse
16:31 Why Reid Says Wall Street's Tokenization Push Is Mostly Lip Service
19:08 How Figure Is Bringing Institutions and Consumers Onchain
24:12 Building Crypto Products Without Regulatory Clarity
27:06 The Product Figure Held Back Over Regulatory Uncertainty
29:28 Banks, Stablecoin Yields and the GENIUS Act
33:25 Why the SEC's Innovation Exemption May Fall Short
38:23 Preparing for Another Regulatory Pendulum Swing
40:24 What's Next for Onchain Credit?
Figure retweeted
Thank you for joining us at our final poker night of the year at @blockworksDAS 💫
Hosted with @FlowTraders, @Figure, @BitDigital_BTBT, and @CMT_Digital.
See you at the tables in 2027 ♣️
The Kiavi acquisition is accelerating our goal of bringing assets on-chain as part of Figure Connect and Prime, which $588 matched offers in Q3, up 50% QoQ.
In summary, resilience is Figure’s edge amidst market swings.
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Join the earnings call today, November 12, at 8:30AM ET ↓
investors.figure.com/events/…
View our full Q3 results ↓
investors.figure.com/financi…
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Figure retweeted
Join @matthew_sigel and @mcagney tomorrow at 12:00pm ET on Spaces to discuss $FIGR earnings. Set your reminder below. xitter.twitterapi.xyz/i/spaces/1lgQzeZoZQoyj…
A successful evening was in the cards for our exclusive Poker Night, with @Blockworks and @FlowTraders!
Institutional leaders from teams in finance, digital assets, and capital markets joined us for some friendly competition and riveting conversation.
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Figure retweeted
Enjoyed going on the Pomp Podcast. Figure is saving customers time and money in the housing space (by leveraging automation and blockchain), which became more topical last week as affordability has come into increased focus.
1/ “Ultimately, people who are in their homes and are looking to save money and time are not saying ‘I want to tokenize my mortgage’, but they are seeing the value of that tokenization, the capital markets see the value, the real-time data, so there’s a lot of benefits to it.”
Figure CEO @MBTannenbaum joined @APompliano on The Pomp Podcast to talk about the power of lending onchain.
Figure retweeted
We started enhancing our customer onboarding and support with Forward Deployed Engineers earlier this year.
We've been delivered more technical integrations and unlocked more growth for customers by leveraging the increasingly low cost nature of software development. We've done everything from modifying compliance data to integrating a custom voice agent.
Full blogpost in comments
We are pleased to support the contribution of IBC to @lfdecentralized to establish a leading open standard for blockchain interoperability in finance.
Since 2021, IBC has facilitated $50B+ transaction volume across 200+ networks, supporting secure asset and data transfers between independent ledgers.
We welcome this step by @cosmos and 22 other organizations to build a more connected financial ecosystem.
prnewswire.com/news-releases…
Figure retweeted
Transfer agents still run on 1970s rules — they need your name and a physical mailing address.
For tokenized securities, a digital wallet address does the job better: more privacy, faster settlement, more engaged shareholder governance.
We filed a joint comment with Securitize, Bullish/Equiniti and Plume asking the SEC to modernize transfer agent rules. 🧵
@Securitize @bullish @equiniti @centrifuge @plumenetwork
Figure retweeted
$6T by KKR's math. Upwards of $20T by Apollo's.
That's the asset-based finance market, and Figure co-founder Mike Cagney says the whole thing belongs onchain:
"That whole market should run on blockchain. Like, bar none"
Today DeFi has "a couple of billion of stablecoin liquidity"
His take for credit funds: they'd "be crazy not to be looking at blockchain and DeFi as a way to beat my competitor set, because they're not there"
FT @mcagney @Figure @BitcoinJesusETH
