Mike Cagney’s second act: Turning blockchain into Wall Street’s new plumbing
Key takeaways
- By Will Canny|Edited by Nikhilesh De May 3, 2026, 1:00 p.m. 3 min read Make preferred on Figure Technology Solutions CEO Mike Cagney.
- In the early 2010s, he helped reshape consumer lending with SoFi by connecting borrowers directly with capital.
- Figure crossed $1 billion in monthly loan originations for the first time in March, part of a $2.9 billion first quarter that puts the firm on roughly $12 billion in annualized volume.
By Will Canny|Edited by Nikhilesh De May 3, 2026, 1:00 p.m. 3 min read Make preferred on Figure Technology Solutions CEO Mike Cagney. (Coin Desk archives)What 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.In this articleSTRKSTRK$0.03926◢0,14%Mike Cagney has been here before, just not with blockchain.
In the early 2010s, he helped reshape consumer lending with SoFi by connecting borrowers directly with capital. Now, at Figure Technology Solutions (FIGR), he said he’s trying to do something similar on a much larger scale: rebuild the infrastructure of credit markets themselves.
The plan may be working. Figure crossed $1 billion in monthly loan originations for the first time in March, part of a $2.9 billion first quarter that puts the firm on roughly $12 billion in annualized volume.