#Figure

7 articles tagged #Figure — curated RWA tokenization coverage.

#PrivateCredit#ProvenanceBlockchain#RWA#Kiavi#BernsteinResearch#BlackRock#Collateral#EDXMarkets#NMSstocks#OnChainLending
Tokenized stocks may see limited U.S. demand: TD Cowen
Stocks

Tokenized stocks may see limited U.S. demand: TD Cowen

The U.S. Securities and Exchange Commission (SEC) recently introduced a five-year exemption allowing qualifying Tokenized Securities Venues to trade tokenized National Market System (NMS) stocks using permissioned automated market makers (AMMs). However, a TD Cowen analysis, authored by Reid Noch, indicates limited domestic demand from U.S. investors, institutions, and listed companies for these products. The report highlights that American investors already possess efficient access to deep liquidity, low-cost brokerage, and fast electronic execution for traditional shares, diminishing the perceived benefits of tokenized alternatives. While blockchain venues could offer 24/7 trading, TD Cowen warns that continuous access does not guarantee favorable execution, especially with thin liquidity in AMM pools outside main U.S. trading hours. Discussions with dozens of issuers revealed minimal interest in offering tokenized shares, with only crypto-linked businesses like Figure showing more engagement. For instance, Figure's Nasdaq-listed FIGR shares accounted for 99.9% of its notional trading volume compared to its blockchain-native FGRS shares. This suggests that even with equal economic and governance rights, tokenized stocks struggle to attract significant activity from established markets. TD Cowen anticipates stronger demand for perpetual futures, citing a snapshot of Nvidia trading on Binance where perpetuals generated 96% of notional volume versus 4% for spot products, indicating a preference for leveraged price exposure over tokenized ownership.

#SEC#TokenizedStocks#Figure
crypto.news·Sep 21, 20267.5
Ondo Finance Invests $25M in Figure Stablecoin
Stablecoins

Ondo Finance Invests $25M in Figure Stablecoin

Ondo Finance has allocated $25 million into YLDS, a yield-bearing stablecoin issued by Figure Technology Solutions, to diversify the backing of its tokenized U.S. Treasury fund. This move marks a strategic shift for Ondo, moving beyond traditional asset manager products to incorporate on-chain stablecoin assets. Figure, which operates on the Provenance blockchain, has originated over $19 billion in loans, including home-equity and mortgage products. This integration highlights the growing trend of institutional-grade protocols utilizing on-chain assets to enhance liquidity and yield generation. Simultaneously, Ondo has expanded its reach by launching tokenized stocks on the BNB Chain and securing regulatory approval from the Liechtenstein Financial Market Authority. These developments underscore the increasing convergence between traditional financial infrastructure and decentralized finance. The broader market is seeing a surge in crypto-collateralized lending, with major players like Tether, Ledn, and Coinbase also expanding their respective loan offerings.

#Ondo Finance#Stablecoins#RWA
coinmarketcap.com·Sep 15, 20267.5
Figure Completes $717 Million Kiavi Acquisition, Pushing $7 Billion in Real Estate Loans Onchain
Credit (Private Credit)

Figure Completes $717 Million Kiavi Acquisition, Pushing $7 Billion in Real Estate Loans Onchain

Figure Technology Solutions has finalized its $717 million acquisition of Kiavi, a residential real estate lending technology provider, to significantly scale its blockchain-based private credit marketplace. The transaction, which closed on September 1, integrates Kiavi’s AI-driven platform and over $7 billion in projected annual loan volume into Figure’s onchain ecosystem. Figure funded the deal primarily through a $600 million senior note offering and utilized a joint venture with investment firm Sixth Street to acquire Kiavi’s loan balance sheet. This move expands Figure’s reach into the first-lien mortgage market, which the company estimates is 25 times larger than the second-lien segment. By leveraging Kiavi’s proprietary home-value engine and document review tools, Figure aims to standardize data for its Democratized Prime and Figure Connect platforms. The acquisition positions Figure as a dominant player in the tokenized private credit sector, which saw significant growth to $65 billion in total RWA market value by May 2026. This integration serves as a critical test for whether tokenized private credit can achieve the same scalability and institutional adoption as tokenized government bonds.

#PrivateCredit#RealEstate#Figure
finance.biggo.com·Sep 6, 20268.5
Figure completes $717 million Kiavi buy, adding $7 billion in tokenized loan volume
Credit (Private Credit)

Figure completes $717 million Kiavi buy, adding $7 billion in tokenized loan volume

Figure Technology Solutions has finalized its $717 million acquisition of Kiavi, a major U.S. lender for residential real estate investors, marking a significant expansion of tokenized private credit. The deal, which closed on September 1, involves Figure acquiring Kiavi’s technology platform while a joint venture with Sixth Street absorbs Kiavi’s existing loan balance sheet. This integration is expected to add over $7 billion in annual first-lien loan volume to Figure’s Democratized Prime platform, with monthly inflows projected to exceed $100 million. By leveraging Kiavi’s AI-driven underwriting and proprietary home-value engine, Figure aims to demonstrate that blockchain-based funding can scale beyond stablecoins and government bonds. The acquisition was primarily funded through $600 million in senior notes due in 2031. Kiavi CEO Arvind Mohan will join Figure as Chief Business Officer to oversee the platform's transition onto blockchain rails. This move represents a critical test for the fintech industry to determine if automated, on-chain lending can effectively compete with legacy financial infrastructure at institutional scale.

#RWA#PrivateCredit#Figure
cryptopolitan.com·Sep 2, 20268.5
EDX Taps Figure's YLDS for Collateral, Joining BlackRock in Tokenised Treasury Race
U.S. Treasuries

EDX Taps Figure's YLDS for Collateral, Joining BlackRock in Tokenised Treasury Race

EDX Markets has integrated Figure Technology Solution’s YLDS, a yield-bearing digital security, into its institutional cryptocurrency infrastructure to serve as collateral for trading and clearing. This move allows institutional clients to maintain liquidity while earning yield on assets that would otherwise remain idle. By incorporating YLDS, EDX aims to bridge the gap between traditional capital management and on-chain finance. To demonstrate confidence in the asset, EDX Markets will also hold YLDS on its own balance sheet as a treasury asset. This development follows a broader industry trend where tokenized instruments, such as BlackRock’s BUIDL and Franklin Templeton’s offerings, are increasingly utilized as collateral across major crypto exchanges. While YLDS is registered with the SEC, the company notes that this does not constitute regulatory approval or a guarantee against loss. The integration highlights the growing institutional demand for efficient collateral management solutions within the digital asset ecosystem. Ultimately, this shift reflects a maturing market where tokenized securities are becoming standard tools for optimizing institutional capital efficiency.

#TokenizedSecurities#Figure#EDXMarkets
financemagnates.com·Aug 25, 20268.0
Onchain lender Figure nearly triples quarterly profits as loan marketplace volume surges to $4.3 billion
Credit (Private Credit)

Onchain lender Figure nearly triples quarterly profits as loan marketplace volume surges to $4.3 billion

Figure, a prominent blockchain-based financial services firm, reported a significant 192% increase in quarterly net income, reaching $87 million compared to $30 million in the same period last year. This surge in profitability coincides with the company's loan marketplace volume climbing to $4.3 billion, underscoring the growing institutional appetite for on-chain lending solutions. By leveraging blockchain technology to streamline the origination and servicing of loans, Figure has successfully reduced operational friction and costs associated with traditional lending models. The company's ability to scale its loan marketplace while simultaneously expanding its bottom line serves as a critical indicator of the viability of tokenized credit markets. This performance highlights a broader trend where blockchain-native financial infrastructure is increasingly capturing market share from legacy systems. As Figure continues to process billions in volume, its success provides a tangible benchmark for the efficiency gains possible through RWA tokenization. The sustained growth in both volume and profit demonstrates that on-chain lending is transitioning from an experimental phase to a robust, revenue-generating sector within the broader financial ecosystem.

#PrivateCredit#Figure#ProvenanceBlockchain
The Block·Aug 13, 20267.5
RWA market hits $51B as tokenized private credits surges: Bernstein
Credit (Private Credit)

RWA market hits $51B as tokenized private credits surges: Bernstein

The Real World Asset (RWA) market has expanded to $51 billion, a 42% increase this year, according to Bernstein Research. This growth is largely driven by tokenized private credit, which now constitutes approximately 44% of the total RWA value, reflecting increased adoption of blockchain infrastructure for lending. Figure Technology Solutions leads RWA platforms with $18 billion in tokenized assets, having tokenized $5 billion in consumer loans in 2026 and achieving $1.3 billion in monthly loan volume in April 2026. Institutional engagement is also evident with BlackRock's BUIDL tokenized money market fund exceeding $2.5 billion in assets. The market's expansion highlights blockchain's emerging role as a foundational layer for global capital markets, addressing investor demand for yield and business capital needs. US Treasury debt remains the second-largest RWA category at 30%, with commodities at 14%. Onchain RWA derivatives are also growing, with Hyperliquid reporting $2.6 billion in open interest in May and $65 billion in trading volumes in April 2026.

#RWA#PrivateCredit#BlackRock
Cointelegraph — RWA Tokenization·Jun 20, 20269.0

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