• Figure Technologies bank charter

    Another crypto bank? Blockchain lender Figure Technologies applies for a bank charter

    The firm believes that a bank charter will allow it to simplify its compliance efforts and help it serve more customers

    According to a Nov. 6 announcement, Figure Technologies applied for a national bank charter from the Office of the United States Comptroller of the Currency (OCC). The firm said in its announcement that the national bank charter would allow it to offer the same set of products and services throughout the U.S. Furthermore, its compliance efforts mean it would have to keep the requirements of only one regulator in mind, reducing costs and risks.

  • Provenance blockchain completes loan

    Provenance blockchain completes loan sale in seconds, not weeks

    Transaction paves the way for Figure, the firm that owns Provenance, to settle $100 million in real estate transactions for lender Pacific Private Money in the coming year

    Figure Technologies founder and CEO Mike Cagney said that its Provenance network was used to execute a bridge loan transaction between lender Pacific Private Money and asset management firm Saluda Grade in seconds, eliminating the need for intermediaries and reducing the cost, time, and friction involved.