In a recent interview with CNBC, Mike Cagney, Co-Founder and Executive Chairman of Figure Technologies, unveiled ambitious plans for the company as it embraces the Web3 era. Cagney expressed a vision for a blockchain-native version of the company’s stock, intending to circumvent traditional securities structures, particularly the services provided by the Depository Trust and Clearing Corporation (DTCC).
Cagney articulated his belief in the transformative potential of blockchain technology by drawing parallels to the landmark developments in Web 2.0. “Well, I think the way we look at it is just like, there’s a mag seven of web 2.0, you’re going to have something like that for web 3.0,” he said. This, he contended, positions Figure Technologies as a pivotal player in the burgeoning Web3 landscape, which he asserted will reshape industries globally.
Further outlining the company’s strategy, Cagney indicated that Figure aims to strengthen its foothold in the credit markets. In this context, the move to issue a new version of its equity on blockchain is viewed not just as an innovation, but also as a tactical step to enhance operational efficiency by eliminating reliance on traditional intermediaries.
As Cagney and his team prepare to navigate this innovative frontier, the company’s efforts signal a significant shift in how securities may be issued and traded in the future. Investors and industry analysts are closely watching Figure Technologies’ developments as it positions itself at the intersection of finance and technology in the evolving digital landscape.
For those interested in real-time updates, the story continues to develop, with the Stocktwits community providing ongoing insights and analysis.
