Figure and Hastra Launch Auto Loan Product, Expanding DeFi Tokenized Credit Market

Figure Technology Solutions launched the onchain credit platform Hastra in 2025, initially deploying it on Solana to tokenize real-world assets such as home equity loans. Its expansion into auto loans takes DeFi private credit beyond mortgages and into mainstream consumer finance. While the move could add new sources of onchain yield, it also introduces the default risk associated with non-prime auto loans.

Figure announced on April 14, 2026, that Democratized Prime, a Figure Markets product, would make auto financing its first new asset class. The offering will launch first on Solana and is expected to expand to Ethereum in June. It uses cash-flow overcollateralization of about 2.4 times and is expected to offer an initial interest rate of approximately 8.6%. Figure has originated more than $22 billion in loans onchain to date.