Figure expands DeFi lending with tokenised auto loans

Figure Technology Solutions and its onchain platform Hastra are expanding into auto loans, widening the scope of tokenised consumer credit available to DeFi investors.

The new asset class will be added to Democratised Prime, a decentralised lending marketplace on Figure Markets, marking its first expansion beyond home equity products.

“We’ve been purposefully building toward this,”

Said Figure CEO Michael Tannenbaum.

The move aims to test whether tokenised private credit can scale into mainstream lending sectors, offering new yield opportunities while introducing risks tied to consumer loan defaults.

Hastra is also expanding beyond its initial base on Solana to Ethereum-compatible chains, starting with Ethereum to access a broader DeFi ecosystem.

The auto loan product will launch first on Solana before expanding to Ethereum, as the platform seeks to increase liquidity and user participation.

The expansion comes amid growing interest in real-world assets in DeFi, though risks remain around regulation, transparency and credit performance in volatile economic conditions.

At the time of reporting, Solana price was $83.50.