Friday, June 9, 2023

Blockchain lender applies for National Bank Charter

By DAC000 , in lending Regulation , at November 7, 2020 Tags: ,

Figure Technologies, a blockchain based lender, has applied for a US National Bank charter. Currently operating in 49 states, a National Bank Charter would allow the Fintech to not only expand its business, but sharply reduce it’s regulatory burden. About a one-minute read.

Comment: Figure applies blockchain technology to loan issuance, processing and securitisation; they are one of the first firm’s to use this tech to solve an actual and complete business problem, rather than yet-another-proof-of-concept.