Figure announces launch of an RWA consortium

Figure (FIGR) Technology Solutions announced the launch of an RWA consortium, a coalition that will expand access to Figure’s more than $1 billion in monthly on-chain loan originations, starting on Solana. The consortium represents a coordinated effort by leading crypto platforms to support and drive adoption of PRIME, the liquid staking token built on the Hastra liquidity protocol, developed in partnership with Figure and the Provenance Blockchain Foundation. Through this coalition, everyday DeFi users can now access institutional-grade yields previously reserved for banks and accredited investors. “We’re democratizing access to institutional lending markets,” said Mike Cagney, Founder and Executive Chairman of Figure. “For the first time, a DeFi user with $100 can participate in the same loan pools as major financial institutions, earning yields from real lending activity with full transparency and instant liquidity. By partnering with Provenance Blockchain to incubate Hastra and bringing together Solana’s speed and developer ecosystem, we’re building an entire RWA ecosystem that extends beyond launching products.”