Market updates and sector developments

Figure Technology Solutions has launched a first-of-its-kind blockchain-based multi-seller, multi-buyer marketplace for private credit loans. Called Figure Connect, the marketplace connects Figure’s capital markets buyer universe directly to Figure’s loan origination partners, with the aim of engendering liquidity by adding certainty of funding to loan originators and collateral composition to loan buyers.

With Figure Connect, originators can receive forward commitments from buyers, lock active bids, control loan pricing to balance profitability and volume, and deliver pools of loans into those commitments. This functionality is facilitated with common, standardised sale terms and documentation.

Figure believes its loan origination partners now have unparalleled control over their business with committed liquidity, transparency and informed loan pricing management – all integrated within Figure’s loan ecosystem. Leveraging the power of the Provenance Blockchain, Figure Connect aims to drive efficiencies for loan buyers and sellers and reduce an often months-long settlement process into days.

Figure Connect’s initial partners include The Loan Store, Movement Mortgage, Bayview Asset Management and Saluda Grade.

Corinne Smith