Figure Completes $150 Million Securitization on the Blockchain

The $150 million securitization of HELOCs is being billed as the first transaction where all aspects were managed on the blockchain; this includes everything from the issuance of the bonds to collecting borrower’s payments that all run on Provenance; by leveraging the Provenance blockchain Figure can both speed up the process and at the same time lower the costs to originate loans; Jefferies Group and Nomura managed the bond sale for Figure; so far Figure has raised over $225 million and was last valued at $1.2 billion. Coindesk

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