Mike Cagney, the founder and CEO of Figure, discusses how his company enjoys major cost and efficiency gains by using their public blockchain, called Provenance, and putting the “tech” back into “fintech” to build the future of financial infrastructure.

In this episode, we talk with Mike Cagney, the founder and CEO of Figure. Figure offers mortgages, home equity lines of credit (HELOCs), personal loans, and other financial services to both individuals and businesses. What make’s Figure unique is that all of these products are originated, securitized, and serviced on Figure’s public Provenance blockchain, saving them time and money. Figure’s creation of these traditional financial products on-chain led them to create the USDF Consortium, whose member banks can mint deposit-backed, FDIC-insured stablecoins on Provenance to enable 24/7/365 dollar transfers between banks.

 

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