Blockchain Firm Figure Technologies Names Asiff Hirji As Presidentbr>
Blockchain firm Figure Technologies has announced former Coinbase COO and President, Asiff Hirji, as the company’s new President.
Figure Technologies aims to transform the lending experience for consumers through the power of blockchain technology. The core of Figure’s lending products is Provenance, a distributed stakeholder blockchain, that was unveiled in 2018. The company’s flagship product is Figure Home Equity Line, a fixed-rate line of credit that provides approval in as little as five minutes and funding in five days — all online. It allows consumers to borrow against the equity in their homes without the paperwork-intensive, 45-day process traditional lenders require. Earlier this year, Figure began offering student loan refinance and mortgage refinance products. The company has originated over $700 million in loans.
Hirji most recently served as President and COO of Coinbase where he grew the company to over $1 billion in revenue; launched new businesses; built out the management team and achieved an $8 billion valuation. Prior to Coinbase, Hirji was an Operating Partner with Andreesen Horowitz focused on helping their best companies scale faster. He previously served as President and COO of TD Ameritrade, growing that business 6x into the nation’s largest online broker. Hirji has also held senior leadership roles with TPG Capital, Saxo Bank, HP, and Bain Capital and has served on a number of public and private boards including Citrix and Advent Software.
As Figure’s new president, Hirji will help drive the company’s key divisions while also spearheading efforts in the creation of the company’s new merchant bank, which will serve institutional customers and facilitate the institutional financial services transactions on the Provenance blockchain platform.
“Asiff has already been a critical advisor to me on how we manage the growth of Figure in order to drive the transformation of financial services across categories and around the world,” said Mike Cagney, CEO and Co-Founder of Figure. “His deep experience in the financial services industry and his long history of helping companies drive and manage growth are both going to be important to the growth of Figure and the creation of our new merchant bank.”
Hirji said that blockchain will crash the costs of financial services, making products more affordable and available to all.
“Figure is one of the very few companies actually turning that promise into reality,” said Hirji. “The opportunity now is to scale to more financial products and open this capability to all financial institutions. I feel fortunate to be able to help make the promise of blockchain a reality.”