Figure Crypto-Backed Loan

Crypto Loans Figure
Updated Edited by George Ong
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Figure Crypto-Backed Loan Overview

Key facts

Product Name
Figure Crypto-Backed Loan
Parent Company
FigureFigure
Release Date
2018
Website
figure.com
Service model
centralized
Product status
available
Collateral & debt
BTC, ETH, SOL · Protection: BTC/ETH; Debt currency: USD
Borrowing rate
9.999–12.62% apr / annual; fixed; 8.91% interest (9.999% APR) at 50% initial LTV · 11.50% interest (12.62% APR) at up to 75% LTV · Advertised APRs exclude the 2% protection fee

Additional details

Offer scope
Figure Crypto-Backed Loan; 12-month US dollar term loan from Figure Lending LLC for eligible US borrowers, excluding residents of nine states and DC. Optional Liquidation Protection covers BTC and ETH loans at up to 50% initial LTV in ten states, for a 2% fee.
Amount & term
From $5,000 · State minimums apply · 12 months · Renewal conditional; Loan structure: Term loan; Minimum: USD 5000; Maximum: Individual quote required; From $5,000 · State minimums apply · Collateral and underwriting set the amount offered; Term: 12 months
LTV & liquidation
Standard: margin call 80–85% · 48-hour cure · full sale at 90%. Protected loans: price-based sales held off, with default and risk-management exceptions.; Maximum initial LTV: 75%
Fees
1% origination by jurisdiction · Protection fee · 2% sale fee where allowed
Repayment
Monthly interest or deferral · Principal due at maturity · No prepayment penalty
Availability
US · Nine states and DC excluded; KYC: Required; Credit check: Required
Payout
Figure Markets account · Timing varies
Custody
Multiparty computation · Protected loans may use third parties

Figure Crypto-Backed Loan Review

Figure Crypto-Backed Loan

Crypto Loans

6.6 Good

Figure’s 12-month dollar loan fixes the interest rate, but borrowing at a higher loan-to-value costs more and narrows the buffer before liquidation. Optional Liquidation Protection changes those sale rules for eligible loans, with an extra fee and exceptions. The debt remains due at maturity.

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Figure Crypto-Backed Loan About

Figure’s crypto-backed loan is a 12-month US dollar loan from Figure Lending LLC, secured by Bitcoin, Ether, or Solana. The rate is fixed for the term, loans start at $5,000, and approval needs identity verification and a soft credit pull.

The advertised rate is 9.999% APR at 50% initial loan-to-value (LTV), rising to 12.62% APR at 75%. Standard loans get a margin call at 80% or 85% LTV with 48 hours to cure, but at 90% Figure can sell the whole collateral balance. Optional Liquidation Protection, for a 2% fee, holds off price-based sales on some BTC and ETH loans.

Pledged crypto sits in a loan-specific MPC wallet, and Figure says it does not reuse collateral. The loan is unavailable in nine states and the District of Columbia.

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