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On-Chain Equities and the Evolution of Market Infrastructure with Mike Cagney of Figure

Rebank: Fintech Analysis · 2026-02-17 · 40 min

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Episode notes

Mike Cagney is the Co-Founder of Figure and a long-time fintech entrepreneur focused on rebuilding financial infrastructure on blockchain rails. Under his leadership, Figure has evolved from a blockchain-native lending platform into a public company advancing tokenized credit, stablecoins, and now on-chain equities. Founded in 2018, Figure was built on the conviction that blockchain could meaningfully reduce costs, improve liquidity, and unlock new forms of financing in traditional financial markets. The company has since brought billions of dollars of credit on-chain and is now pushing into tokenized public equities - including issuing a distinct blockchain-native version of its own stock designed to integrate directly with DeFi protocols. Through Figure's alternative trading system and decentralized finance initiatives, Mike is advancing a vision in which equities, credit, and stablecoins converge into a more efficient, self-custodied, and globally accessible financial system.

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