According to BlockBeats, Figure Technology Solutions CEO Mike Cagney said on May 3 that the company is using blockchain to restructure traditional credit market infrastructure. The company’s March loan originations surpassed $1 billion for the first time, with first-quarter total lending reaching $2.9 billion, translating to approximately $12 billion annualized. Figure has launched YLDS, a yield-bearing stablecoin, and deployed on-chain credit vault products on Solana, enabling users to invest in tokenized credit assets or use them as collateral for borrowing. The company plans to expand to Ethereum and explore stock tokenization and on-chain securities lending.
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