And it's 20 partners as of today ... we are moving!! @ryanghicks crushing it here

Yesterday we crossed $100M in loan sale proceeds settled in $YLDS. The old way: sell loans, wait 2 to 3 weeks for funding to hit. Now: 1 day. A 95% reduction in time to cash. And because $YLDS pays interest, the money earns from the moment it lands. Our partners have collected over $100K in interest this year just by holding their own sale proceeds. 17 partners on board. Faster to cash, and the cash works while it sits. This is the power of @Figure's marketplace.

I have been a shareholder of $FIGR for a long time. I originally invested at Morgan Creek and eventually joined the board of directors for a while. We were one of the top 5 holders of the company when it IPO’d last year. I am no longer on the board, but it is nearly impossible to be bearish on the company after watching @mcagney work up close for so long. They are growing revenue at more than 100% year-over-year and EBITDA just grew over 50% in the same time frame. That is just insane. Everyone eventually learns to never, ever bet against Mike Cagney.

Our team at @pennant_ai is building the Corporate Governance OS for the next age of public markets. We're proud and incredibly excited to be launching with @ycombinator today. We know this market and the pain points we are solving for firsthand, and we are thrilled to be defining a new way forward. Lots of hard work to get here and plenty more ahead, grateful to be on this journey with @0xtotaylor! If you touch proxy voting, shareholder activism or corporate governance, and want to shake things up, let's talk. getpennant.ai

BREAKING: AUTO is live on Solana, backed by U.S. auto loans. Consumer lending is the largest credit market in the U.S., and AUTO brings near-prime auto yield onchain for the first time.

@SPGlobal highlights @Figure as the catalyst for blockchain adoption in ECM. By pioneering native blockchain stock issuance, $FIGR set the standard & other co's are already following our lead by adding the option for blockchain shares into their recent filings spglobal.com/market-intellig…

.@WuBlockchain 10% isn't a compliance failure. It's what happens when you tokenize assets that were already liquid in TradFi. The unlock is originating assets onchain that couldn't exist offchain or that YOU couldn't have access to, not wrapping more Treasuries.

Super bullish on private and public credit moving on-chain. The crypto community has chased yield in staking and restaking without real visibility into the underlying cash flows. Underwriting and pricing risk is TradFi’s entire edge. Tokenization levels the playing field.

Most headlines in the RWA space are still pilots and PR. The real and lasting applications of blockchain will be behind the scenes, in the plumbing of capital markets. Here’s where the real volume is: • Broadridge DLR (tokenized repo trading on Canton): $326 Bn average daily volume in Feb 2026. Smart contracts handle the open and close of each repo, with cash and collateral moving atomically on a shared ledger. Settlement times can be specified to the minute, which makes intraday and even hourly repo operationally feasible. Legacy rails batch settle with cutoff windows that prevent it. Massive improvement to a legacy repo marketplace. Current participants include UBS, Société Générale, and a growing bank syndicate. • Figure (tokenized consumer credit on Provenance): $22 Bn+ in home equity originated, $2.7B in Q4'25 consumer loan marketplace volume. Origination, lien registration, whole loan sale, and securitization all run on one ledger as the system of record. Every handoff in legacy lending (originator, warehouse, buyer, securitizer, trustee, auditor) requires duplicate verification and reconciliation. Using a shared ledger collapses that. Lower origination costs, ~80% lower securitization audit costs, and more efficient capital markets. Largest nonbank HELOC lender in America. (Full disclosure: I work here.) • JPMorgan (tokenized deposits on Kinexys): $7 Bn in daily transactions. JPM deposits move 24/7 and exchange atomically against tokenized collateral. Legacy settlement splits cash and securities onto separate rails (Fedwire for cash, DTCC for securities), leaving a timing gap where one side has paid but not yet received. Atomic settlement on one ledger closes that gap. Other notable mentions: BlackRock’s BUIDL (tokenized money market fund) and Ondo (tokenized treasuries and more recently equities). The infrastructure is proven. Displacing a legacy system that operates well (though imperfectly) is the difficult part. Much more to come in 2026.