Figure cryptocurrency mortgages can be loaned at up to 75% of the collateral value

Comparatively, the crypto lender Figure Lending LLC offers crypto-backed loans. Borrowers can use Bitcoin, Ethereum, or Solana as collateral to receive up to 75% of the value of the collateral while retaining ownership of the tokens. Borrowings generally do not constitute a sale and generally do not trigger a capital gain event.

Figure Lending LLC said borrowers should compare maximum loan value ratios, fixed or variable interest rates, regulatory permits, and liquidation terms. The agency offers a fixed interest rate, a loan term of 12 months, a maximum annualized interest rate of 12.62%, and supports same-day loans without requiring a credit score. The approval is based on collateral. Figure provides optional liquidation protection, which is available in some states, and can delay settlement during the loan term due to falling prices; if the loan is overdue, liquidation may still occur. This feature does not apply to non-payment, default, or violation of loan terms, and falling crypto asset prices may still trigger additional margin requirements.