A group of U.S.-based banks is launching their own stablecoin, USDF. The stablecoin will be issued by the USDF Consortium, which will allow its members (financial and banking institutions) to issue USDF. The proposed stablecoin will be the first currency of its kind to be minted by FDIC-insured institutions and compliant with the recommendations on […]
Quick Take Figure and Apollo, the asset management giant, are exploring ways to use the Provenance blockchain to create exchanges and other financial services. Provenance, which is targeting full decentralization, is trying to lure heavily regulated institutions away from Ethereum and other blockchains. This feature story is available to subscribers of The Block Daily. You […]
Blockchain-based lending firm Figure Technologies has raised $200 million in a Series D funding round, pushing its valuation to $3.2 billion. The round was co-led by 10T Holdings and Morgan Creek Digital. Other investors included Digital Currency Group, Ribbit Capital, DCM and DST Global. Founded in 2018 by former SoFi founder Mike Cagney, Figure provides […]
A blank-check company tied to blockchain lending startup Figure has formally unveiled its plan for an initial public offering, according to a press release. Figure Acquisition Corporation I aims to sell 25 million units for $10 each, which will be listed under the ticker symbol “FACA.U” on the New York Stock Exchange. Trading begins on […]
Quick Take DCG has a new wealth management business in the works, according to two sources familiar with the plan. It would join the firm’s asset management business Grayscale as a part of DCG’s family of companies. This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature […]
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Figure Technologies, the blockchain lending startup founded by former SoFi CEO Mark Cagney, has applied for a national bank charter, according to a report by Bloomberg. “It will drive down the cost of delivering our product to those underserved by the financial sector,” Cagney told the outlet. “It will allow the consumer to build a […]