Most Tokenization Projects Fail. Here’s Why One Succeeded: Bits + Bips

As tokenization becomes trendy again, Figure is one of a handful of projects recording significant success. The company's founder unpacks how the project works and the primary hurdle faced by most tokenization projects

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Tokenization is all the rage again. But that doesn't mean tokenizing everything and anything is a good idea.

In this episode of Bits + Bips, Figure CEO Mike Cagney joins Unchained Executive Editor Steve Ehrlich to break down how Figure has achieved product-market-fit by bringing a mortgage replacement onchain.

He explores the primary challenge facing tokenization projects and what it takes to succeed.

He also shares how he deals with the pressure of running a public company and how his philosophical approach differs from Coinbase and Robinhood.

Plus, are the big banks now the disruptors?

Host:
⭐️ Steve Ehrlich, Executive Editor at Unchained

Guest:
⭐️ Mike Cagney, Co-founder and CEO of Figure Technology Solutions

Timestamps:
🚀 00:00 Introduction
🧠 1:48 What is a HELOC?
💡 4:48 How Figure is turning HELOCs into a mortgage replacement
⚡️ 7:58 How Figure issues loans from origination to disbursement
📍 11:28 Why Figure uses a blockchain
⚠️ 12:15 Cagney explains how liquidity poses a challenge for many tokenization projects
🧏‍♂️ 13:10 Why the real value proposition is in DeFi and how Figure is bringing $1 billion onchain
📃 14:14 Cagney reveals Figure's preferred DeFi platforms
💥 16:09 How the GENIUS Act could drive assets onchain
⚡️ 17:46 How Figure is working towards stablecoin settlement of loans
👀 23:40 Why Cagney says the big banks are doing more disruptive work than the likes of Coinbase
⚖️ 27:53 What Cagney is advocating for around DeFi in DC and his litmus test for decentralization
❕️ 31:30 Why Cagney believes anonymity is not necessary for decentralization CLIP
💡 33:32 How Cagney deals with the pressures of going public
🧠 34:32 Why Cagney has taken a different philosophical approach to Robinhood and Coinbase
💥 37:05 Cagney explains what it takes for tokenization projects to succeed

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#bitcoin #ethereum #crypto #cryptocurrencies
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