Figure HELOC Token

Overview

This entry tracks home equity lines of credit originated by Figure and recorded as tokens on the Provenance blockchain; rwa.xyz lists it as the largest tokenized credit asset. Each token is a digital record of an underlying HELOC promissory note, and supply follows the outstanding principal as borrowers draw and repay. The loans are sold to institutional buyers through Figure's Figure Connect marketplace and are not a pooled fund offered to the public.

US residential home equity lines of credit originated by Figure, secured by residential property

Product structure

Legal wrapper

Whole loans / promissory notes recorded on Provenance (DART lien and eNote registry); not a fund

Domicile

United States

Regulatory status

Not an investor-facing security offering; loans originated under US consumer-lending licensing. Figure Technology Solutions is an SEC registrant (Nasdaq: FIGR).

Asset segregation

Buyers acquire whole loans directly; ownership recorded on Provenance and in county records. No fund or SPV wrapper at token level.

Custodian

Figure or its partners hold the tokenized loans in blockchain wallets (per S-1); no third-party custodian disclosed

Fund administrator

Unverified

Auditor

Unverified

Transfer agent

None; Provenance/DART on-chain registry records loan ownership, alongside county land records

Tokenization agent

Figure / Provenance Blockchain (native)

Proof of reserve

None publicly disclosed

Redemption & liquidity

Redemption terms

No redemption right; exposure ends as borrowers repay principal or loans are sold

Secondary liquidity

Peer-to-peer loan trading between approved institutions on Figure Connect, settled on Provenance

Yield mechanism

Borrower interest and principal payments on underlying loans

Fees

rwa.xyz lists 0% management and performance fee (loan-level economics, not a fund)

On-chain information

Provenance

Token standard

Provenance pDA / digital asset (Provenance native)

Transfer restrictions

Permissioned; rwa.xyz classes it as a 'represented' asset that cannot move to external wallets

Contract addresses: unverified

Notes & material events

The figure shown is the outstanding represented loan value on rwa.xyz when the page was viewed on 2026-09-30; the page shows no explicit data date. It is a represented (registry) value, not investable fund AUM; it was reported at USD 20.1bn in July 2026. rwa.xyz inception date 2022-01-17 conflicts with a CoinDesk listing date of 2025-08-21. A separate DeFi-distributed product (Hastra PRIME, about USD 573m, on Ethereum/Solana) gives exposure to a Figure home-equity pool and is not included here.

Revision history

No published revisions.