Figure Acquires Kiavi for $717 Million, Bringing $7 Billion Lending Business onto Blockchain

Figure Technology Solutions has closed its $717 million acquisition of Kiavi, bringing one of the largest US lenders to residential real-estate investors onto blockchain rails. The deal, which was confirmed in a Form 8-K filed with the SEC, represents a significant milestone for the tokenization sector.

Kiavi's technology and assets will add more than $7 billion in annual first-lien volume to Figure Connect, with over $100 million a month flowing onto Democratized Prime. This is expected to significantly increase Figure's lending volume in terms of tokenization, making it a major player in the RWA market.

The acquisition also brings an AI-driven platform with proprietary home-value engine and automated document review technology, which will be integrated into Figure's existing infrastructure. Kiavi CEO Arvind Mohan is joining Figure as Chief Business Officer to lead the platform's rollout.

Figure's CEO Michael Tannenbaum highlighted the scale of the home-equity market they are targeting, calling it 'a massive leap forward for the asset class'. The deal is seen as a test case for tokenized private credit, with many in the sector watching to see if it can scale like tokenized Treasuries.