Bernstein says Figure's $2.9B Q1 shows blockchain loan markets are more than fintech wrappers
CoinTelegraph •
Revision history
2 recorded changes
Want your article here?
Promote with Leviathan NewsBernstein's May 15 note argues Figure is not just a HELOC fintech with crypto paint: its Q1 beat makes FIGR a proxy for blockchain-native loan volumes. Figure reported $2.9B in consumer loan marketplace volume, $166.8M adjusted net revenue and $82.7M adjusted EBITDA, and Bernstein says live onchain data points to a record Q2. The important bit is Forge: Figure is trying to fractionalize whole loans into single-dollar RWA units that DeFi can fund, trade and borrow against, while tokenized credit is still only about $5.1B against Bernstein's $4T origination TAM.
TLDR by @Benthic
More coverage
- Figure Technology reports Q1 2026 loan marketplace volume up ... (allmind.ai)
- Bernstein is not changing its $67 price target on @Figure That's ... (x.com)
- Bernstein Sees Figure Technology Undervalued, Sets ... - SignalPlus (t.signalplus.com)
- Figure Technology Solutions, Inc. Class A Common Stock Stock Price (perplexity.ai)
- Figure Q1 Loan Volume Doubles; Bernstein Reiterates $67 Target ... (gate.com)
Explore the topic
More on Markets
xStocks expands regulated distribution across Europe through AsseteraGlobal, giving eligible investors access to 200+ tokenized stocks across 30 EU/EEA markets
𝕏/@xStocksFi ·
Aave to launch an RWA lending market on Avalanche, letting institutions borrow stablecoins against tokenized assets without selling their underlying positions
𝕏/@avax ·
Ondo Finance’s Oasis Pro Markets joins DTCC’s Fund/SERV, making Ondo the first tokenization company on a network processing over 85% of U.S. mutual fund activity
𝕏/@Ondo ·
Payward to build permissioned Hyperliquid HIP-3 markets for US clients, with Bitnomial handling clearing
𝕏/@Payward ·
FastLane Labs launches Moose.Trade in beta as Monad’s first fully onchain trading aggregator, routing swaps across every market without offchain decisioning
𝕏/@0xFastLane ·
Zenith joins DTCC working group on tokenizing $114T U.S. securities market
𝕏/@ZenithFdn ·
xStocks expands regulated distribution across Europe through AsseteraGlobal, giving eligible investors access to 200+ tokenized stocks across 30 EU/EEA markets
𝕏/@xStocksFi ·
Aave to launch an RWA lending market on Avalanche, letting institutions borrow stablecoins against tokenized assets without selling their underlying positions
𝕏/@avax ·
Ondo Finance’s Oasis Pro Markets joins DTCC’s Fund/SERV, making Ondo the first tokenization company on a network processing over 85% of U.S. mutual fund activity
𝕏/@Ondo ·
Payward to build permissioned Hyperliquid HIP-3 markets for US clients, with Bitnomial handling clearing
𝕏/@Payward ·
FastLane Labs launches Moose.Trade in beta as Monad’s first fully onchain trading aggregator, routing swaps across every market without offchain decisioning
𝕏/@0xFastLane ·
Zenith joins DTCC working group on tokenizing $114T U.S. securities market
𝕏/@ZenithFdn ·