Figure Expands Crypto Services with Democratized Prime and Crypto-Backed Loans

Figure has expanded its services to cater to the needs of crypto holders who face the dilemma of whether to sell their assets for cash or hold on to them, potentially earning nothing. The platform offers two financial products that were previously limited to banks and institutional investors.

Democratized Prime is a decentralized lending marketplace where users can lend their crypto or USD and earn returns of up to 8.5%. The interest rates are set by the user, and once matched with a borrower, the earnings begin hourly. Every loan is fully backed by crypto or real-world assets and secured on the blockchain.

Crypto-Backed Loans allow users to borrow cash against their Bitcoin, Ethereum, or Solana without selling their assets. The loans have a fixed 12-month term and zero prepayment penalties. The available interest rates are 8.91% at 50% LTV or 11.50% at up to 75% LTV.

Figure adheres to SOC 2 and ISO 27001 standards, ensuring strong security across the platform. To get started with either product, users can download the Figure Markets app and create an account. They can then deposit $500 in crypto within 30 days after account creation to receive a $50 bonus.