Wall Street closes at a record for the first time since end of January
Investing.com -- Figure Technology Solutions Ltd (NASDAQ:FIGR) stock jumped 5.1% Thursday after the blockchain-native capital marketplace announced the launch of a real-world asset (RWA) consortium that will expand access to over $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, a liquid staking token built on the Hastra liquidity protocol. PRIME is powered by the Democratized Prime decentralized lending protocol on Provenance Blockchain, allowing users to lend against pools of tokenized Figure RWA loans.
"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."
The RWA Consortium includes strategic partners such as Kamino Finance, Chainlink, CASH, Raydium, Privy, and Gauntlet, each playing specific roles in delivering the framework for the PRIME token on Solana. This initiative follows the recent debut of Hastra, a liquidity protocol incubated by Figure and Provenance Blockchain.
Figure has originated over $19 billion in on-chain loans to date and claims a 70% market share in RWA private credit. The company is extending beyond Provenance Blockchain to integrate with Layer 1 networks like Solana, leveraging Chainlink CCIP for cross-chain interoperability.
The consortium will focus on community engagement, education, and adoption through reward programs and events, including an RWA experience at the upcoming Solana Breakpoint conference.
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