Figure Technology’s Blockchain Lending Platform Shines as Bernstein Sees Stock Doubling

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.

Figure Technology Solutions is a fintech company using blockchain to reshape capital-markets infrastructure. It launched the private credit marketplace Figure Connect in June 2024, allowing loan originators to connect directly with capital providers. Shifting transactions to the platform reduces the company's reliance on balance-sheet lending, creating a more capital-light model with steadier profits.

Figure said on February 26, 2026, that consumer loan marketplace volume reached $2.7 billion in the fourth quarter of 2025, up 131% year on year. Figure Connect contributed $1.5 billion, accounting for more than half of the total for the first time. The company also partnered with auto-finance fintech Agora Data that day to add third-party auto loans, which are expected to bring tens of millions of dollars in assets to the platform within months.