Tech
Figure Technologies seeks SEC approval to issue interest-bearing stablecoins
Figure Technologies Inc.a blockchain and lending startup founded by former SoFi Technologies Inc. CEO Mike Cagney, is seeking approval from U.S. regulators to issue an interest-bearing stablecoin.
The move is a new attempt to create a new class of stablecoins with federal legitimacy, and if successful, Figure will offer the first regulated stablecoin as a security in the United States. Figure filed a draft registration statement with the Securities and Exchange Commission in October under the name Figure Certificate Co., a subsidiary.