Blockchain-based lender Figur Technology Solutions and Hastra, its onchain lending platform, are adding auto loans to their tokenized loan marketplace, expanding the real assets (RWAs) available to decentralized finance (DeFi) investors beyond home equity products.
Democratic Prime, a decentralized lending marketplace on Figure Markets, is adding auto financing as the first novel asset class as part of a plan to build a marketplace where various types of consumer loans can be originated, traded and financed online, according to a Tuesday announcement shared with Cointelegraph.
“We are intentionally moving in this direction,” said Michael Tannenbaum, Figura’s CEO, adding that the platform has seeded more than $22 billion in onchain lending.
The move is an early test of whether tokenized private credit can expand beyond home equity products into mainstream consumer lending, which could expand DeFi’s access to real yield but also import the credit risk of subprime lending markets.
Character fired Hastra in 2025, with its public debut and implementation taking place later that year. Initially launched on Solana (SOL), the platform was built as an extension of Figura’s lending ecosystem, leveraging its lending infrastructure and lending infrastructure to move RWA on-chain.
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Hastra expands to EVM chains
At the same time, Hastra is expanding into Ethereum (EVM)-compatible networks, opening access to the larger DeFi ecosystem and moving its existing lending system, including exposure to home equity loans, to novel networks.
A spokesperson for the drawing told Cointelegraph that Hastra will start with Ethereum (ETH) as part of its entry into EVM chains. They also confirmed that the auto finance product will launch first on the Solana platform and then around June on Ethereum.
However, the introduction of onchain consumer lending has not to remove the underlying risks associated with these assets. Non-prime auto loans may be associated with higher default rates, especially in weaker economic conditions.
There are also questions about regulation, transparency and how these blockchain-based lending products will perform under stressed or volatile market conditions.
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Data gains bullish perspective from Bernstein
Earlier this month, Bernstein analysts said Figura could be undervalued, giving the blockchain lender an “Outperform” rating and a price target of $67, almost double its last trading price. The bullish outlook is driven by the growth of its tokenized lending business, with loan originations exceeding $1.2 billion in March and first-quarter volume reaching $2.9 billion.
The figure went public on September 11, 2025 and is listed on the Nasdaq Stock Exchange under the symbol FIGR.
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