Figure withdraws national bank charter application
Figure Technologies Inc., a blockchain-oriented startup established by ex-SoFi Technologies Inc. CEO Mike Cagney, has retracted its application for a nationwide bank charter to concentrate on diversified growth opportunities with existing banking partners. Figure applied with the Office of the Comptroller of the Currency in 2020 aiming to simplify operations and expand its service scope across the country. However, the fintech firm withdrew its application on July 31. Big news in the #blockchain world! Figure Technologies, led by ex-SoFi CEO Mike Cagney, has withdraw n its application for a national bank charter . A bold move, signaling a possible shift in their strategic direction. Stay tuned for more updates! #fintech #cryptocurrency pic.twitter.com/sgaVYXnERW — Blockchains Now (@BlockchainsNow) August 1, 2023 The fintech firm, embedded in the blockchain and cryptocurrency industry, has faced significant obstacles amidst a sector-wide slump. Fundraising and ta...