PANews reported on May 3rd that, according to CoinDesk, Mike Cagney, founder of Figure Technology Solutions (FIGR), stated that the company is reshaping the traditional credit market infrastructure through blockchain, driving the on-chaining of real-world assets (RWA), lending, and even stocks, creating a "new plumbing" for Wall Street. Figure achieved its first monthly loan disbursement exceeding $1 billion in March of this year, with total disbursements reaching $2.9 billion in the first quarter, equivalent to approximately $12 billion annualized.

Mike Cagney points out that Figure's core advantages lie in three main areas: first, reducing securitization costs and intermediaries through loan tokenization; second, establishing a real-time updated consumer credit liquidity market to improve trading efficiency; and third, integrating credit assets into DeFi, allowing more investors to participate in allocation or collateralized lending. Its Forge platform can package loans into standardized vaults and convert them into tokens that can be used as collateral in DeFi protocols.

Furthermore, Figure has been advancing its business on Solana and plans to expand into the Ethereum ecosystem. It has also launched YLDS, a yield-generating stablecoin backed by traditional assets such as US Treasury bonds with a scale of approximately $600 million, and is exploring stock tokenization. Mike Cagney stated that blockchain will redistribute more public market value than any previous technology, reshaping many traditional industries as a result.