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FollowingFigure completes acquisition to integrate Kiavi technology into blockchain platform
Figure announced on September 1 that it has completed the acquisition of Kiavi, a residential loan technology company. The fintech company expects the move to bring in more than $7 billion in loans to its blockchain-based Figure Connect market. According to Figure CEO Michael Tannenbaum, the platform will tokenize residential bridging loans and debt service coverage loans as core market products.
Figure acquires Kiavi technology and forms a joint venture
Figure acquires Kiavi's artificial intelligence-based technology platform. The deal also forms a joint venture with investment firm Sixth Street, which will initiate residential bridging loans and sell them through Figure Connect. These short-term, property-backed loans are often used by real estate investors to buy and renovate homes.
The completion of this transaction marks the integration phase of the acquisition plan announced by Figure in June. This also expands the company's exposure to first lien credit rather than just adding another digital asset product. Figure said all assets entered through the Kiavi transaction are first-lien loans.
The company expects monthly transaction volume of US$100 million.
Figure predicts that the acquisition will contribute more than US$100 million in monthly transaction volume to its Democratic Prime market. The market is designed to provide a financing bridge for loans before they are sold to investors through Figure Connect. This figure is the company's forecast, not the actual transaction volume, and will depend on post-acquisition execution.
Figure said that Figure Connect had achieved monthly transaction volume exceeding US$1 billion as early as the beginning of 2026. The company also reported that in its latest quarterly update, the market accounted for 65% of the company's total trading volume. Therefore, Kiavi's addition is an expansion of existing loan distribution channels rather than creating a market from scratch.
Tokenized credit becomes Figure's larger business landscape
Figure's on-chain strategy already covers registered income products and capital market infrastructure. In 2025, the company deployed its Securities and Exchange Commission registered YLDS tokens on the Sui network. Subsequently, Figure Markets became verification nodes for the Stellar network along with MoneyGram and Range.
Kiavi has added real estate loan pipelines to this broader business landscape. Figure said its share of the primary lien business increased from 10% to 20% last year, with transaction volume doubling, and pointed out that the primary lien market is 25 times the size of the secondary lien market. These comparisons justify the strategy, but do not guarantee the same growth after integration.
The core of integration is standardized loan data
Figure also plans to make Kiavi's technology available to more than 480 partners. Its Adaptor tool aims to standardize data formats for different sponsors to allow assets to enter the Figure Connect and Democratic Prime markets. The company said the software played a central role in Kiavi's integration.
The current progress is that the acquisition of the Kiavi platform has been completed and ownership has been acquired. Expected monthly trading volume, partner earnings and the expansion of tokenized credit remain forward-looking statements that Figure needs to achieve through joint ventures and marketing campaigns.
