Figure founder: Blockchain is becoming the new underlying infrastructure of Wall Street, aiming to reshape the credit market.

CoinFeed 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.