Figure and Hastra widen DeFi credit offering with auto loan launch

Figure is adding auto loans to Democratized Prime and extending Hastra beyond Solana, widening tokenized consumer credit access for DeFi investors.

Figure and Hastra are adding auto loans to their tokenized credit platform, expanding the types of real-world assets available to decentralized finance (DeFi) investors beyond home equity products.

Democratized Prime, a decentralized lending marketplace on Figure Markets, is adding auto finance as its first new asset class as part of its plan to build a marketplace where different types of consumer credit can be issued, traded and funded onchain, according to a Tuesday announcement shared with Cointelegraph.

“We’ve been purposefully building toward this,” Michael Tannenbaum, CEO of Figure, said, adding that the platform has originated over $22 billion in onchain loans.

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