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Deployments · Figure · platform by Figure

Figure home equity loan registry and marketplace on Provenance (DART and Figure Connect)New

Figure records the home equity lines of credit (HELOCs) and other consumer loans originated through its lending software on the Provenance blockchain. Its DART registry tracks who owns each loan and who holds the servicing rights, and its Figure Connect marketplace lets originators sell loans to buyers and investors. The chain is a record-keeping layer, not the legal record: Figure states that originations and ownership transfers are still documented through traditional processes, with each record and transfer also written to Provenance as a hash. So the loans are not tokens that investors hold in their own wallets. By value this is by far the largest "tokenised credit" figure on trackers: rwa.xyz counts about $23.8 billion, roughly half of all the private credit it tracks.

AnnouncedProof of conceptPilotLive (limited)Live (scaled)

Live (scaled)[1] — Record-keeping use (rwa.xyz calls it represented, not distributed); 87% of loans originated through Figure's software in 2025 used DART. · Reviewed 24d ago

Assets
Loan interest[1]
On-chain records of HELOCs and other consumer loans, their ownership and servicing rights; legal title stays with traditional loan documentation.
Networks
Provenance Blockchain Public, permissionless[1][3]
Use cases
Secondary trading[1][2]Asset servicing[1]
Jurisdictions
United States

Participants

  • FigureOperator, Platform provider, Technology provider[1][3]United States
  • Goldman SachsClient or user[4]United States
  • JefferiesClient or user[4]United States
  • Deutsche BankClient or user[4]Germany
  • Texas CapitalClient or user[4]United States
  • 307 active lending partners at the end of 2025; 115 entities had signed agreements to use DART (as originators, financiers, loan buyers, servicers or custodians) and 48 Figure Connect marketplace participants were onboarded. Figure said in March 2025 that more than half of the top 20 US independent mortgage banks use DART, without naming them.[1][4]

Assets

Metrics

  • ~$23.84bnLoans recorded on Provenance (rwa.xyz value) · as of 15 Oct 2026 · on Provenance Blockchaincontext[3]
    rwa.xyz's Figure HELOC Token: supply of about 23.84 billion valued at $1 each, classed as represented (chain used for record-keeping, not investor distribution). rwa.xyz does not say whether this is unpaid principal or another loan measure; its market-value estimate is $24.46bn. Recorded on ledger: the ledger mirrors an ownership record kept elsewhere, so this balance is counted in the separate recorded-on-ledger figure, not in totals.
  • $3.84bn / yearFigure Connect volume · as of 2025[1]
    Loan volume originated by third-party sellers through the Figure Connect marketplace in 2025 (Figure's definition).
  • $2.77bn / quarterFigure Connect volume · as of Q2 2026[2]
    Three months to 30 June 2026; $4.38bn in the first half of 2026.
  • $4.26bn / quarterConsumer loan marketplace volume · as of Q2 2026context[2]
    Three months to 30 June 2026. Figure's definition: originations of HELOCs, DSCR and personal loans on its loan origination software (LOS), plus third-party loans traded on Figure Connect. Shown as context, not counted: it includes the Figure Connect volume counted above, and loan origination has no exact use case yet (decision 2026-10-15-figure-wrappers-2).
  • $2.9bn / quarterConsumer loan marketplace volume · as of Q1 2026context[2]
    Three months to 31 March 2026, derived as the six-month figure ($7,161.2m) minus the second quarter ($4,258.8m). Same definition and treatment as the Q2 figure.

Timeline

  1. Happened 2025 (year only) · Production milestone · recorded 15 Oct 2026
    DART, Figure's on-chain loan registry, is used for 87% of loans originated through its software in 2025, up from 2% in 2024; Figure Connect handles $3.8bn of third-party loan volume in the year.[1]
  2. Happened Jun 2024 (month only) · Launch · recorded 15 Oct 2026
    Figure launches Figure Connect, its blockchain-based marketplace connecting sellers and buyers of loans.[1]

Sources

  1. [1]Form 10-K for the fiscal year ended December 31, 2025 — Figure Technology Solutions, Inc. (SEC filing), 16 Mar 2026. Accessed 15 Oct 2026.A
  2. [2]Form 10-Q for the quarterly period ended June 30, 2026 — Figure Technology Solutions, Inc. (SEC filing), 14 Aug 2026. Accessed 15 Oct 2026.A
  3. [3]Figure HELOC Token asset page — RWA.xyz. Accessed 15 Oct 2026.A
  4. [4]Figure’s DART Lien Registry Attracts Major Partners — Figure Technology Solutions (Business Wire, republished by Silicon UK), 5 Mar 2025. Accessed 28 Oct 2026. Figure's own release distributed on Business Wire; the Silicon UK copy was opened..B

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