
As private credit markets face increasing scrutiny, a structural shift is underway toward asset-backed finance (ABF) and non-agency mortgages. In this new environment, transparency, liquidity, and real-time data are becoming critical and platforms like Figure are emerging at the center of this transformation.
Insights from recent structured finance summits suggest that 2026 could mark the most active issuance year since the Global Financial Crisis, driven by investor demand for resilient, data-driven credit products.
From illiquidity to institutional-grade infrastructure
Traditional private credit, especially unsecured lending to SaaS and enterprise software companies is facing pressure as AI disrupts legacy business models. In response, capital is rotating toward asset-backed structures that offer stronger collateral performance and improved liquidity.
Figure has positioned itself at the forefront of this shift by building infrastructure that bridges traditional securitization with blockchain enabled transparency.
Unlike legacy private lending, where assets can be difficult to price or exit, Figure’s approach leverages standardized instruments, third-party trust structures, and active secondary markets to enhance liquidity and investor confidence.
Real-Time data as a competitive advantage
One of the most significant limitations of traditional structured finance has been delayed reporting cycles. Figure addresses this through its blockchain-based infrastructure, enabling near real-time visibility into loan performance.
Its DART (Digital Asset Registry Technology) system allows investors to monitor loan pools continuously, providing a level of transparency that was previously unavailable in private markets.
This shift from periodic reporting to continuous data access is redefining how risk is assessed and managed across structured credit portfolios.
Scaling issuance in a peak cycle
As issuance volumes accelerate, Figure is expanding its role as a frequent issuer across multiple asset classes, including:
- Home equity lines of credit (HELOCs)
- Crypto-backed loans
- Residential transition loans (RTL)
The company is also entering the auto securitization market, signaling broader ambitions within the asset-backed finance ecosystem.
With projected volumes exceeding $200B in RMBS and $300B in ABS, the ability to scale efficiently while maintaining transparency is becoming a defining competitive advantage.
Blockchain as the foundation for trust
Recent market events have highlighted the risks of opaque asset ownership structures, particularly in cases of “double-pledging.” Figure’s infrastructure is designed to address these challenges by embedding verifiable ownership and lien tracking directly into the financial stack.
Through partnerships like the integration with Agora Data, Figure is extending blockchain-based verification into new sectors such as auto finance bringing institutional grade controls to traditionally fragmented markets.
The future of structured finance
As the industry moves toward standardized, data-driven, and blockchain-verified systems, platforms that combine financial engineering with modern infrastructure are setting the pace.
Figure represents a new model where private credit is no longer confined to opaque, illiquid environments but instead operates with the speed, transparency, and accessibility required for the next generation of global capital markets.







