Mike Cagney’s second act: Turning blockchain into Wall Street’s new plumbing

Figure’s $1 billion month capped a years-long push to strip out middlemen from credit markets, bringing real-world assets, lending and even equities onchain. \nWhat to know : Figure topped $1 billion in monthly loan originations in March for the first time, validating its tokenized credit marketplace. CEO Mike Cagney said he is using blockchain to cut intermediaries across securitization, lending and stock borrowing. New products, from DeFi credit vaults to tokenized equities, aim to democratize access to yield.