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Figure and Hastra widen DeFi credit offering with auto loan launch
TL;DR
Figure and Hastra are launching auto loans on their tokenized credit platform, expanding DeFi offerings beyond home equity. This initiative aims to create a marketplace for various consumer credit types onchain.
Key points
- Figure and Hastra are adding auto loans to their platform
- Democratized Prime is the decentralized lending marketplace involved
- Figure has originated over $22 billion in onchain loans
- This move tests tokenized private credit's expansion into consumer lending
- The initiative could widen DeFi's access to real-world yield
FigureHastraDemocratized Prime
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.
The move marks an early test of whether tokenized private credit can expand beyond home-equity products into mainstream consumer lending, a shift that could widen DeFi’s access to real-world yield but also import the credit risks of subprime-style loan markets.
Figure launched Hastra in 2025, with its public debut and rollout occurring later that year. The platform, which initially launched on Solana (SOL), was built as an extension of Figure’s lending ecosystem, using its loan origination and credit infrastructure to bring real-world assets (RWAs) onchain.
Related: Nauru taps Bitcoiner Dadvan Yousuf for trade role in digital asset push
Hastra expands to EVM chains
At the same time, Hastra is expanding to Ethereum-compatible (EVM) chains, opening access to a larger DeFi ecosystem and bringing its existing credit system, including home equity loan exposure, to new chains.
A Figure spokesperson told Cointelegraph that Hastra will start with Ethereum (ETH) as part of its push into EVM chains. They also confirmed that the auto finance product will first launch on Solana before rolling out on Ethereum around June.
Figure shares are down 12% YTD. Source: Yahoo! Finance
Q&A
What new asset class is Figure's Democratized Prime adding?
Figure's Democratized Prime is adding auto finance as its first new asset class.
How much in onchain loans has Figure originated?
Figure has originated over $22 billion in onchain loans.
What is the significance of tokenized private credit expanding into auto loans?
This expansion tests whether tokenized private credit can move beyond home equity into mainstream consumer lending, potentially increasing DeFi's access to real-world yield.
