Figure Technologies Inc., the company behind the Provenance blockchain platform to offer financial services to consumers, has hired former chief operating officer (COO) of coinbase Asiff Hirji as a president of the company.
According to press release published on January 29, Asiff Hirji has already started working at company headquarter in San Francisco.
He will also build a “new merchant bank division of the company that will serve institutional customers and facilitate the institutional financial services transactions on the Provenance blockchain platform,” said the company.
Asif Hirji is a blockchain veteran who most recently worked as president and COO of Coinbase where he grew the company to over $1 billion in revenue. At Coinbase, he built a new management team and launched many new business that achieved a $8 billion valuation.
Prior to Coinbase, he worked as an operating partner with Andreesen Horowitz and as president and COO of TD Ameritrade, growing that business 6x into the nation’s largest online broker.
The industry veteran 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.
Asiff Hirji, sharing his thoughts, said:
“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. 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.”
Figure Technologies, based in San Francisco, California, was founded by Michael Cagney, Alana Ackerson, Cynthia Chen, June Ou, and Sara Priola in January of 2018.
The company provides consumer financial solutions intended for home improvement, debt consolidation, and retirement planning. The company uses a proprietary Provenance Blockchain platform to process the loans.
Currently Figure offers HELOC, Mortgage Refinancing and Student Loan Refinancing and plans to continuously expand its portfolio of products.
The company said that its blockchain platform would soon also be process loans for leading financial companies around the world.
Michael Cagney, CEO and co-founder of Figure, commented:
“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. 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.”