Figure and Hastra Add Auto Loans to Tokenized Credit Platform
Figure and Hastra are expanding their tokenized credit platform to include auto loans, broadening DeFi investor access to real-world assets.Summary
Figure and Hastra are integrating auto loans into their tokenized credit platform, marking a significant expansion beyond home equity products for decentralized finance (DeFi) investors. This move, part of Democratized Prime on Figure Markets, aims to create a marketplace for issuing, trading, and funding various consumer credits on-chain. Figure CEO Michael Tannenbaum highlighted the platform's existing success with over $22 billion in on-chain loans. The expansion tests the viability of tokenized private credit in mainstream consumer lending, potentially increasing DeFi's access to real-world yield but also introducing risks associated with subprime loan markets. Hastra, launched in 2025 and initially on Solana, is also expanding to Ethereum-compatible (EVM) chains, bringing its credit system to a wider DeFi ecosystem. The auto finance product will debut on Solana before launching on Ethereum around June. Despite the expansion, risks associated with consumer loans, particularly non-prime auto loans with higher default rates, remain a concern, alongside regulatory and transparency questions for these blockchain-based credit products.
(Source：Cointelegraph)