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Figure Builds Onchain Mortgage Securities Capital Markets
- Figure Technology Solutions leads in tokenized private credit with almost 80% market share, attracting firms like Goldman Sachs, Jefferies, and Deutsche Bank to its loan marketplace.
- Tokenized assets have surpassed $18 billion, with private credit and US Treasuries dominating 90% of this value.
- Private credit tokenization via platforms like Figure and Tradable enhances liquidity and transparency in non-bank lending.
- Figure Connect, utilizing Provenance blockchain, automates loan origination, streamlining processes for lenders and enabling marketplace infrastructure for price discovery.
- Figure's software has facilitated over $13 billion in home equity transactions, offering rapid approval and funding timelines for homeowners.
- DART electronic lien registry by Figure leverages blockchain to automate loan ownership updates, reducing assignment time from weeks to minutes.
- Major players like Goldman Sachs, Jefferies, and Deutsche Bank using DART highlight the industry's shift towards blockchain technology for improved efficiency and risk management.
- Figure's collaboration with Sixth Street involves a joint venture to invest $200 million in securitizing loans and creating a more liquid marketplace for Figure Connect.
- The joint venture aims to stabilize Figure's loan ecosystem, increase liquidity in the private credit market, and revolutionize the mortgage capital markets.
- Figure's CEO envisions blockchain technology disrupting traditional mortgage processes and aims to expand its impact beyond the mortgage market to revolutionize private credit assets.
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