- Figure Technology Solutions and Figure Markets announce a merger to lead blockchain-powered capital markets, aiming to integrate traditional finance with DeFi.
- The combined entity holds over 70% market share in Real World Asset Tokenization, with a securitization rated AAA by S&P.
- The merger presents a $130 billion revenue opportunity, driving innovation in asset-backed lending and cross-asset tokenization.
Figure Technology Solutions and Figure Markets have announced a strategic merger to transform the global capital markets landscape through blockchain technology. The unified entity, operating as Figure Technology Solutions, aims to bridge traditional finance with decentralized finance (DeFi), leveraging blockchain's potential for efficiency and cost savings.
Under the leadership of CEO Michael Tannenbaum, the merged company holds a dominant position in the Real World Asset (RWA) tokenization market, commanding over 75% market share. Their recent securitization, rated AAA by S&P, marks a significant milestone as the first blockchain-native asset to achieve this rating.
Figure's consumer credit marketplace and blockchain-native asset exchange create a powerful synergy, offering a consolidated ecosystem for asset origination, tokenization, and trading. This integrated approach has enabled Figure to fund over $16 billion in home equity loans, with aspirations to capture a growing share of the $35 trillion U.S. home equity market.
The merger, supported by the Provenance Blockchain infrastructure, is expected to close later this summer, pending shareholder and regulatory approval.
