Figure CEO: Blockchain will restructure Wall Street's "financial pipeline," potentially leading to large-scale replacement of traditional intermediaries.

According to a report by CoinDesk, Mike Cagney, CEO of Figure Technology Solutions, stated that the company is attempting to leverage blockchain to restructure the traditional credit market infrastructure and deeply integrate Real-World Assets (RWA), securitization, and DeFi. Data shows that Figure's monthly loan disbursement exceeded $1 billion for the first time in March, with total lending reaching $2.9 billion in the first quarter, equivalent to approximately $12 billion annualized. Cagney stated that the company's goal is to reduce costs and improve liquidity by eliminating intermediaries in the securitization, lending, and stock lending markets through on-chain technology. Currently, Figure has launched the yield-generating stablecoin YLDS and has launched on-chain credit vault products on networks such as Solana, allowing users to invest in tokenized credit assets or use them as collateral for lending. The company also plans to expand into the Ethereum ecosystem and explore stock tokenization and on-chain securities lending. Cagney believes that the true value of blockchain lies not in "putting everything on-chain," but in reconstructing the financial abstraction layer. "Loans, securities, equities, and other financial assets are naturally suited for on-chain implementation, and the entire financial infrastructure may be rewritten as a result."