Phyn

Understanding an onchain credit opportunity means looking beyond its return. Our Head of Product Marketing, Tayeb Kenzari will dive into a full walkthrough of Prime, including how its lending structure works, what backs its credit pools, and the risks and safeguards institutions should evaluate. Join the webinar on Wednesday, October 21 at 9AM ET.

Institutions have historically leaned on “trusted” yield sources – but in the current macro landscape, those sources are losing value. In our webinar, our Head of Product Marketing, Tayeb Kenzari and @Steve_4P, CEO of @FourPillarsFP, will cover yield and how to rethink it in an inflationary era. Together, they will weigh in on today’s inflation and how it is different from yesterday’s, as well as introduce a new spectrum of yield tools for institutions and investors. It’s your key to weathering the modern economy. Join the live session, October 14th, 9AM ET. Sign up → events.zoom.us/ev/AlxJMsgp_c…

There’s still time to sign up for our newsletter before it drops. Whether you are an investor or an institution, this is a must-read for all that have implemented a yield strategy into their portfolio, or are considering one.

Capital markets are evolving, and now, so is the infrastructure. Figure’s system does away with the complexities and inefficiencies of endless hand-offs between intermediaries, connecting whole-loan origination to Wall Street securitization and open market capital. Borrowers get faster, cheaper access to funding. Lenders get direct access to credit, without the middlemen. It’s capital markets, as a service. Learn more → digitalassets.figure.com/?ut…

We’re building the connected system for capital markets – and it’s a complete upgrade from the incumbent model. Traditionally, capital markets are complex and fragmented. Lending, trading, custody, settlement, and reporting are siloed into separate systems. We’re building a better way. Our vision is a world in which asset creation, financing, and settlement can be completed on the same system, and it’s a vision we’re bringing to life by rebuilding capital markets from the ground-up. Origination, recording, tokenization, trading, and settlement all live within Figure’s infrastructure, resulting in higher efficiency, and lower costs. The old way relies on antiquated models. Now, capital markets need only one stack: the Figure stack.

Tokenization opportunities in Korea are fundamentally different from the global private credit market. Key reasons: • Concentration of domestic private funds in private equity • Private debt funds are small • Credit supply is dominated by bank and security firm balance sheets @FourPillarsFP dove into Korea’s regulatory system, and the Figure model’s potential as a point of contact.

YLDS are now trackable on Artemis. Monitor price, market cap, stablecoin transfer volume, and stablecoin supply, all in the Artemis dashboard.

We released our Q1 2026 earnings yesterday, where we again saw triple-digit growth with margins of 50%, reflecting a mix of growth and profitability made possible by our asset-light marketplace model. A few highlights: • Our Figure Connect marketplace continues to grow rapidly. We recently surpassed $1 billion in monthly originations for the first time, and we see a clear path to $2 billion per month as we bring more assets on-chain. • Our blockchain ecosystem is scaling quickly: Our always-on DeFi-native warehouse financing vehicle Democratized Prime and $YLDS, our SEC-registered, yield-bearing stablecoin product, had balances up 80% quarter-over-quarter. • AI implementation is creating value for us, and our ability to adopt AI effectively is a force multiplier because of how effective blockchain technology is at serving as infrastructure for AI that creates value and reduces friction in capital markets.

The team had another successful day in Miami! 🌴 At the Real Yield Summit, we touched on the current state and the future of RWAs: • Our Chief Capital Officer, Todd Stevens, and @jacqmelinek talked about the closing gap between TradFi and DeFi. • Our Head of Stablecoin Growth Karl Samsen and @stellarorg’s Chief Business Officer @rajachak75 discussed what it takes to build stablecoins that work across savings, payments, and treasury. • They covered what YLDS unlocks for the next phase of compliant, yield-bearing stablecoins post-GENIUS Act. • Leaders from our team, @morpho, and @sentora @reidlikeabook, @dennisbree, @admff492, and @jrdothoughts did a deep-dive into on-chain credit, how it is evolving, and how the industry is building it.

Last week, our President of Digital Assets @reidlikeabook went to @EthCC and explained how Figure is becoming the credit layer for all of DeFi. Let’s recap 🧵