Figure

Figure is acquiring Kiavi for $717 million to expand its RWA tokenization network. The move aims to reduce costs while maintaining a capital-light, high-margin business model.

AI robotics company Figure showcased robots performing basic tasks like cleaning and sorting packages via videos posted in May. The article notes that while robots are impressive, they remain years away from replacing humans.

The RWA (Real-World Assets) market has reached $51 billion, driven by surging tokenized private credit. Figure leads RWA platforms with $18 billion in tokenized assets, according to Bernstein Research data.

Figure is a crypto lender that is helping to turn digital assets into viable collateral for credit, making them more accessible to mainstream users. This move is democratizing crypto-as-collateral and has the potential to increase adoption. Figure's efforts are aimed at making digital assets a more viable option for credit.

NUVA, backed by Animoca, has connected Figure's $19 billion of tokenized assets to Ethereum, marking a significant development in the tokenization space. This move enables the integration of a substantial amount of assets onto the Ethereum blockchain. The partnership highlights the growing interest in tokenizing traditional assets on decentralized platforms.

Aven, a Silicon Valley fintech, is launching a Bitcoin-backed credit card with interest rates ranging from 7.99% to 11.99%, offering credit lines up to $1 million over 10 years. The card requires overcollateralization with Bitcoin, and rates vary based on the collateral percentage pledged. Competitors like Ledn, Salt Lending, and Arch also offer similar crypto-backed loans with varying terms.

Figure shares dropped 9% despite hitting a $1B lending milestone, as market volatility and shifting sentiment impacted crypto-linked equities. Analysts highlighted strong growth in the fintech's blockchain-based lending, but this could not offset the stock's decline.