Figure Offers Cryptocurrency Collateral Loans Up to 75% of Collateral Value

Figure Lending LLC, a cryptocurrency lending institution, offers collateral loans where borrowers can use Bitcoin, Ethereum, or Solana as collateral to obtain cash up to 75% of the collateral value, while retaining ownership of the tokens. Borrowing typically does not constitute a sale and generally does not trigger a capital gains event. 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%, supports same-day funding, and does not require a credit score, with approval based on collateral. Figure provides an optional liquidation protection feature available in certain 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 in cases of non-payment, default, or violation of loan terms, and a decline in cryptocurrency asset prices may still trigger margin calls.

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