Figure Expands On-Chain Lending Platform to Include Auto Loans

Figure Technology Solutions is expanding its on-chain credit platform Hastra to include auto loans. This marks the first new asset class introduced to Democratized Prime, Figure's decentralized lending marketplace on Figure Markets.

The addition of auto loans aims to allow different types of consumer credit to be issued, traded, and funded entirely on-chain for DeFi investors. Figure CEO Michael Tannenbaum stated that the company has originated over $22 billion in on-chain loans and has been building towards this expansion.

Hastra, launched in 2025 on Solana as an extension of its existing lending infrastructure, will now expand to Ethereum-compatible EVM chains. The auto finance product will launch on Solana first, with an Ethereum rollout expected around June.

Adding consumer auto loans to a blockchain lending platform introduces risks that are different from those tied to home equity products. Non-prime auto loans carry higher default rates, particularly during periods of economic weakness.