Figure said on September 1 that it had closed its acquisition of residential-lending technology company Kiavi, a step that the fintech expects to add more than $7 billion in loan volume to its blockchain-native Figure Connect marketplace. According to Figure CEO Michael Tannenbaum’s announcement, the platform will tokenize residential transition loans and debt-service coverage ratio loans as core marketplace products.
Figure Buys Kiavi Technology and Forms a JV
Figure purchased Kiavi’s artificial-intelligence-powered technology platform. The transaction also creates a joint venture with investment firm Sixth Street that will originate residential transition loans and sell them through Figure Connect. These short-term, property-backed loans are commonly used by real-estate investors to acquire and renovate homes.
The closing moves the deal beyond Figure’s June announcement and into integration. It also expands the company’s exposure to first-lien credit, rather than simply adding another digital-asset product. Figure said all assets entering through the Kiavi transaction are first-lien loans.
Company Projects $100 Million in Monthly Volume
Figure projects that the acquisition will contribute more than $100 million in monthly volume to Democratized Prime, its marketplace designed to bridge financing before loans are sold to investors through Figure Connect. That figure is a company forecast, not realized transaction volume, and will depend on execution after the acquisition.
The company said Figure Connect had already passed $1 billion in monthly volume earlier in 2026. It also reported that the marketplace accounted for 65% of total company volume in its latest quarterly update. The Kiavi addition therefore extends an existing lending distribution channel rather than creating a marketplace from scratch.
Tokenized Credit Becomes a Bigger Part of Figure
Figure’s onchain strategy already spans registered yield products and capital-markets infrastructure. In 2025, the company deployed its SEC-registered YLDS token on Sui. Figure Markets later joined MoneyGram and Range as a validator on the Stellar network.
Kiavi adds a real-estate lending pipeline to that broader footprint. Figure said its share of first-lien business rose from 10% to 20% last year while volume doubled, and described the first-lien market as 25 times larger than the second-lien market. Those comparisons explain the strategic rationale but do not guarantee the same growth after integration.
Integration Centers on Standardized Loan Data
Figure also plans to make Kiavi’s technology available to more than 480 partners. Its Adaptor tool is intended to standardize different originator data formats before assets enter Figure Connect and Democratized Prime. The company said the software has been central to the Kiavi integration.
The immediate development is the completed acquisition and ownership of Kiavi’s platform. The projected monthly volume, partner benefits and expansion of tokenized credit remain forward-looking claims that Figure must now deliver through the joint venture and marketplace rollout.
