Cross River, a technology infrastructure provider offering embedded financial solutions, announced a forward-flow agreement with Figure Technology Solutions that includes a commitment of up to $250 million in asset purchases to support Figure’s Crypto-Backed Loan product.
The agreement expands Cross River’s participation in the digital asset lending market through its Principal Finance Group (PFG). The committed capital is designed to help Figure provide consumers with U.S. dollar liquidity while allowing them to retain ownership of their cryptocurrency holdings. Borrowers can use digital assets as collateral to access financing instead of selling their crypto investments.
Cross River said the arrangement reflects its ongoing strategy of providing capital solutions to fintech platforms while supporting innovation in digital asset finance. The company’s Principal Finance Group offers warehouse lines, seasoning facilities, and forward-flow purchase solutions across the fintech ecosystem.
Figure, a blockchain-native capital marketplace, said the facility will help meet growing demand for crypto-backed lending products. The company has built a platform connecting loan origination, funding, and secondary market activity, with more than 380 partners participating across its ecosystem. Figure and its partners have originated more than $25 billion in home equity products and have expanded into additional blockchain-based financial services.
The companies said the agreement represents another step toward integrating digital assets into mainstream financial services by giving consumers additional options for accessing liquidity without liquidating their crypto holdings.
KEY QUOTES:
“For many consumers who own digital assets, crypto-backed lending provides a lower cost financing option versus the alternatives. We are thrilled to support Figure as this financing tool continues to mature.”
Noah Cooper, CIO And Head Of Capital Solutions Group, Cross River
“Our forward-flow commitment with Figure provides the dedicated capital to serve broad consumer demand. This structure reflects our confidence in both the asset class and Figure’s platform.”
Rahul Jha, Head Of Principal Finance, Cross River
“We’re proud to welcome Cross River as a financing partner. With Crypto-Backed Loans, we’ve gone from a relatively new idea – to allow borrowing against a highly popular appreciated asset – and we’ve achieved rapid adoption while creating a model that others have followed. Cross River’s involvement is a major proof point underscoring our success so far, as well as our continued upward trajectory.”
Todd Stevens, Chief Capital Officer, Figure Technology Solutions
