Figure Cryptocurrency mortgage loans can lend up to 75% of the collateral value

Figure Lending LLC, a cryptocurrency lending institution, offers cryptocurrency-backed loans where borrowers can use Bitcoin, Ethereum, or Solana as collateral to obtain cash up to 75% of the collateral's value while retaining ownership of the tokens. Borrowing typically does not constitute a sale and generally does not trigger a capital gains event.

Figure Lending LLC states that borrowers should compare the maximum loan-to-value ratio, fixed or variable interest rates, regulatory licensing, and liquidation terms. The institution offers fixed rates with a loan term of 12 months, a maximum annual percentage rate of 12.62%, and supports same-day funding without requiring a credit score, with approval based on the collateral. Figure provides an optional liquidation protection feature available in some states, which can delay liquidation during the loan term due to price declines; however, liquidation may still occur if the loan is overdue. This feature does not apply to situations of non-payment, default, or violation of loan terms, and a decline in cryptocurrency asset prices may still trigger margin calls.