Figure Technology Solutions, the technology platform streamlining the private credit and housing markets, launched Figure Connect, a blockchain-based multi-seller, multi-buyer marketplace of private credit loans.
“Figure Connect marks another transformative step towards creating the first highly liquid private capital marketplace for loans, as we now offer unique certainty of funding to loan originators and standardization to loan buyers,” Michael Tannenbaum, CEO of Figure, said.
“Figure Connect displaces legacy lending infrastructure and processes, without the burden of multiple intermediary parties at the end user’s expense, and lays the foundation for a permanently liquid marketplace,” Mike Cagney, executive chairman of Figure, said.
Figure Connect’s initial partners include The Loan Store, Movement Mortgage, Bayview Asset Management and Saluda Grade. The Figure Connect marketplace is now available to all other participants in Figure’s lending ecosystem.
“We are thrilled to be one of the first partners to have access to this pioneering marketplace, which we expect will ensure liquidity, optimize pricing and provide unrivaled transparency, significantly benefiting our business,” Phil Shoemaker, CEO of The Loan Store, said. “Figure continues to offer us more and more reasons to work with them.”
