Figure Heloc

Figure HELOC is a tokenized receivable representing home equity lines of credit, or HELOCs, extended by the financial technology company Figure. A HELOC is a type of credit that lets homeowners borrow against the equity in their homes for purposes such as renovation or debt consolidation. The token is registered on the Provenance blockchain, which Figure uses in its loan origination and securitization processes.

By handling the origination, registration and transfer of loans on Provenance, Figure aims to reduce the intermediary and bookkeeping costs of traditional lending. This token is listed on CoinGecko in the real-world asset and tokenized private credit categories; however, it does not trade widely on exchanges like a classic cryptocurrency, and its trading volume is quite low. Which investors the token is open to, and its legal structure, are determined by the issuer's documents.

The value of a credit token like this depends on the repayment performance of the loans it represents, house prices, interest rates and the issuer's credit assessment processes; a rise in default rates could lead to a loss of value. The page on Lzzo.com shows DefiLlama's US dollar reference price; the chart is drawn from the same source's historical data.