Figure Teams with Hastra to Launch Auto Loans in Expanding DeFi Credit Platform
The partnership between Figure and Hastra brings automobile financing to Democratized Prime while expanding Hastra's reach across additional blockchain networks, broadening access to tokenized consumer lending for the DeFi community.
A new product line featuring automobile financing is being introduced to the tokenized credit platform operated by Figure and Hastra, broadening the range of real-world assets accessible to participants in decentralized finance (DeFi) markets beyond the existing home equity loan offerings.
The decentralized lending marketplace known as Democratized Prime, which operates on Figure Markets, is incorporating auto finance as the inaugural new asset category in alignment with its vision of creating a comprehensive marketplace where various consumer credit products can be originated, exchanged, and financed through blockchain technology, based on a Tuesday announcement that was shared with Cointelegraph.
Michael Tannenbaum, who serves as CEO of Figure, stated that "We've been purposefully building toward this," while noting that the platform's total onchain loan originations have exceeded $22 billion.
This expansion represents an initial assessment of whether private credit that has been tokenized can successfully grow beyond home-equity loan products into conventional consumer lending markets, a transition that may broaden DeFi's capacity to access real-world returns while simultaneously introducing the credit exposure associated with lending markets similar to subprime categories.
The Hastra platform was introduced by Figure in 2025, with the public launch and distribution taking place during that same year. Initially deployed on Solana (SOL), the platform was developed as an expansion of Figure's existing lending infrastructure, leveraging its loan origination capabilities and credit systems to facilitate the blockchain integration of real-world assets (RWAs).
Hastra expands to EVM chains
Concurrently, Hastra is extending its operations to blockchains compatible with Ethereum Virtual Machine (EVM) standards, creating pathways to a broader DeFi marketplace and introducing its current credit framework, which includes exposure to home equity lending products, across new blockchain networks.
According to information provided to Cointelegraph by a Figure spokesperson, Hastra's initial EVM chain deployment will begin with Ethereum (ETH) as a component of its strategic expansion into EVM-compatible networks. The spokesperson additionally verified that automobile financing products will debut on Solana initially, with the Ethereum rollout scheduled to occur approximately in June.
Nevertheless, the migration of consumer lending products to blockchain infrastructure does not eliminate the fundamental risks associated with these financial instruments. Auto loans targeting non-prime borrowers may experience elevated default rates, particularly when economic conditions deteriorate.
Additional concerns exist regarding regulatory compliance, operational transparency, and the potential performance characteristics of these blockchain-based credit instruments when subjected to financial stress or periods of significant market volatility.
Figure gains bullish outlook from Bernstein
During the earlier part of this month, research analysts from Bernstein suggested that Figure's current market valuation may not fully reflect its potential, issuing an "Outperform" rating accompanied by a price target of $67, representing approximately twice the company's recent trading valuation. This optimistic assessment comes after observing expansion in the company's tokenized lending operations, with loan origination activity exceeding $1.2 billion during March and first-quarter transaction volumes totaling $2.9 billion.
The company completed its transition to public markets on Sept. 11, 2025, when it began trading on the Nasdaq stock exchange using the ticker symbol FIGR.