May 3
Figure’s Cagney Pitches Tokenized Stocks as Wall Street’s New Collateral Layer, Not Just 24/7 Trading
Figure founder Mike Cagney argues that the true value of blockchain-native equities is not 24/7 trading but turning stocks into programmable collateral that can
➤ Figure founder Mike Cagney proposes tokenized stocks as programmable collateral, aiming to revolutionize credit infrastructure beyond 24/7 trading. ➤ The OPEN network on Provenance Blockchain enables borrowing against tokenized stock, mirroring DeFi lending and unbundling traditional prime brokerage services. ➤ Regulatory clarity and adoption are key challenges, but Figure's model aims to reduce costs, increase liquidity, and broaden access to financial markets.