How does Figure's recent hiring strategy compare to similar fintech firms in the sector?

Figure’s hiring move in context

How Figure’s approach aligns with, and slightly diverges from, the broader fintech hiring trend

1. Alignment with the sector‑wide regulatory‑arms race

   • Regulatory pressure: Since 2022, regulators in the U.S., EU, and Asia have intensified scrutiny of fintechs that operate on or interact with blockchain, stablecoins, and tokenized assets. The typical response has been to scale up legal and compliance teams to pre‑empt enforcement actions and to build stronger risk frameworks. Figure’s addition of a senior litigator and a VP of compliance is a textbook example of that response.
     
   • Experience focus: The industry is no longer hiring junior counsel; firms are targeting seasoned practitioners who have “walked the walk” in complex financial transactions and enforcement defenses. Comerford’s three‑decade background mirrors the caliber that peers such as Coinbase, Kraken, and BlockFi have been recruiting.

2. Specificity to a blockchain‑focused marketplace

   • Contracts & litigation expertise: While many fintechs (e.g., payment processors) emphasize payment‑card, merchant‑acquiring contracts, Figure’s focus on blockchain‑based product contracts and token‑sale litigation is more niche. Hiring a lawyer with deep commercial‑litigation experience signals that Figure anticipates potential disputes that are unique to decentralized finance (e.g., smart‑contract failures, token‑classification battles).
     
   • Compliance for tokenized assets: The Vice President of Compliance role is likely to address AML/KYC for crypto‑derived transactions, securities‑law compliance (e.g., Howey test), and emerging data‑privacy rules for decentralized platforms—areas that are less pronounced in traditional fintechs but increasingly vital for crypto‑native firms.

3. Scale and speed relative to peers

   • Rapid execution: Figure announced both hires simultaneously, indicating a coordinated “legal‑compliance surge.” Some peers stagger such appointments (e.g., adding a general counsel first, then a compliance head later). The simultaneous move suggests Figure wants a cohesive policy framework ready for upcoming product launches or a regulatory filing.
     
   • Team size inference: By appointing a senior counsel and a VP‑level compliance officer, Figure is effectively doubling down on its internal risk function, whereas many fintechs of comparable size may still rely on outsourced counsel for litigation while only having a single compliance manager. This could give Figure a competitive edge in speed of regulatory response.

4. Comparative hiring patterns at notable fintechs

   • Stripe: In 2024‑2025, Stripe added a Chief Legal Officer and multiple regional compliance heads to manage cross‑border payments regulation. The focus is on payment‑services directives, PSD2, and data‑privacy—different regulatory domains than Figure’s crypto‑focus.
     
   • Plaid: Plaid’s 2023‑2024 hires were largely privacy lawyers and consumer‑protection specialists, reflecting its API‑driven data‑sharing model.
     
   • Robinhood: Post‑2023 SEC settlement, Robinhood bolstered its securities‑law litigation team and added a Head of AML; the roles are similar in seniority but oriented to equity‑trading regulation rather than blockchain contracts.
     
   • Coinbase/Kraken: Both have been hiring crypto‑policy experts and senior counsel focused on “digital asset classification” and “regulatory sandbox” engagement. Figure’s hires sit squarely alongside these moves but are notable for emphasizing contracts & litigation rather than purely policy advocacy.

Key take‑aways

• Strategic fit: Figure’s hiring is in step with the fintech sector’s broader push to fortify legal and compliance functions in response to heightened regulator attention, especially for crypto‑related activities.
• Differentiation: The specific blend of senior litigation expertise and a compliance chief tailored to a blockchain‑based marketplace sets Figure apart from more traditional payment‑oriented fintechs that may prioritize privacy or AML alone.
• Potential advantage: By establishing a robust, senior‑level legal/compliance backbone now, Figure positions itself to move faster on product roll‑outs, handle any regulatory inquiries proactively, and reduce litigation risk—advantages that could translate into greater market confidence compared with peers still scaling those functions incrementally.

In summary, Figure’s recent hiring strategy mirrors the sector‑wide trend of up‑leveling legal and compliance capabilities, but it does so with a focused, high‑seniority, simultaneous approach that reflects the unique regulatory landscape of its blockchain‑centric business model. This puts Figure slightly ahead of many fintech peers that are either still building these teams piece‑by‑piece or concentrating on different regulatory domains.