Figure Acquires Kiavi for $717 Million, Boosting Tokenized Lending
Figure Technology Solutions has completed its $717 million acquisition of Kiavi, adding more than $7 billion in annual first-lien volume to Figure Connect. The deal brings one of the largest US lenders to residential real-estate investors onto blockchain rails.
Kiavi's AI-driven platform and proprietary home-value engine are expected to complement Figure's existing technology and expand its marketplace. Kiavi CEO Arvind Mohan will join Figure as Chief Business Officer to lead the rollout of the combined platform.
The acquisition represents a significant opportunity for the crypto sector to test the scalability of tokenized lending, which has primarily been used for stablecoins and government bonds. The deal also raises questions about whether AI-powered underwriting and blockchain funding can compete with legacy financial infrastructure in institutional markets.