More and more major Wall Street banks are pumping large sums into the crypto market. The latest example is provided by the investment bank JPMorgan.
And institutional investors strike again. Thus, the shared block chain mortgage platform Figure with that it has received a 100-million dollar funding for their mortgage products from the US investment bank JPMorgan.
Figure Technologies said on Wednesday, according to media reports , that this is the fifth major investment for its online lending business. The total volume of transactions is now almost $ 1.5 billion. In addition to JPMorgan, Jefferies and other well-known WallStreet banks are also partners. The new business covers both compliant and so-called jumbo mortgages. This means loans that go beyond traditional credit restrictions.
Figure Technologies reported that its mortgage business grew nearly 50 percent in the fourth quarter of 2020 from the previous month. The company uses blockchain technology to make mortgages and loans faster and cheaper by automating parts of the process. Figure is committed to continuing to introduce a range of fintech innovations to the capital markets.
Figure was founded in 2018 by tech entrepreneur Mike Cagney. He is also responsible for founding SoFi. He managed to grow the company into a multi-billion dollar business under his leadership as CEO.
Wall Street seems to be getting more and more euphoric about the crypto market right now. Most recently, JPMorgan Managing Director Nikolaos Panigirtzoglou had predicted a Bitcoin rate of a whopping 146,000 US dollars .
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. bitcoinlinux.com holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest.
Everything on this website can be seen as Advertisment and most comes from Press Releases, bitcoinlinux.com is is not responsible for any of the content of or from external sites and feeds. Sponsored posts are always flagged as this, guest posts, guest articles and PRs are most time but NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites.
Advertise with us : Advertise
Post source: JPMorgan is investing $ 100 million in blockchain project Figure