Figure closes $717 million Kiavi deal, bringing $7 billion lending business onto blockchain rails

Figure Technology Solutions closed its $717 million acquisition of Kiavi on Tuesday, bringing one of the largest US lenders to residential real-estate investors onto blockchain rails. The September 1 closing was confirmed in both Figure’s acquisition announcement and its Form 8-K filed with the SEC.

The arrangement represents a chance for the crypto sector to see if tokenized lending can go beyond stablecoins and government bonds. It is also an experiment for the fintech industry to determine if AI-powered underwriting and blockchain funding has the potential for institutional use.

Kiavi is expected to add more than $7 billion in annual first-lien volume to Figure Connect, with over $100 million a month flowing onto Democratized Prime, Figure’s on-chain lend-borrow venue, according to Figure’s June 10 acquisition announcement.

Why tokenization backers are watching this one

The tokenization of real-world assets (RWAs) has experienced rapid growth, but it continues to be relatively centralized. The RWA market reached approximately $65 billion in May, representing an increase of approximately 44% compared to the $45 billion in the beginning of 2026, as noted by The Block’s market information. This trend was also examined in a report by Cryptopolitan.

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