Figure Technology Solutions has completed its $717 million acquisition of Kiavi, integrating the residential transition loan platform into its blockchain-native capital marketplace. Announced as finalized on September 1, 2026, the deal expands Figure Connect with residential transition and DSCR lending technologies.
Scaling the On-Chain Capital Stack
The transaction bridges traditional real estate debt with distributed ledger infrastructure. Under the terms of the merger agreement initially disclosed on June 10, 2026, Figure acquired Kiavi’s core technology and operating platform. This integration brings the #1 Residential Transition Loan (RTL) lender directly into Figure’s ecosystem of more than 480 active partners.
Figure operates using its proprietary loan origination system alongside its Democratized Prime on-chain lend-borrow marketplace and DART (Digital Asset Registry Technology) for asset custody and lien perfection. Incorporating Kiavi’s technology allows the firm to scale its real-world asset (RWA) tokenization pipelines.
Strategic Alignment and Joint Venture Mechanics
Alongside the platform acquisition, Figure and global investment firm Sixth Street formed a joint venture. This partnership facilitated the purchase of loans off Kiavi’s balance sheet, mitigating balance sheet exposure for the combined entity while maintaining origination velocity.
Arvind Mohan, formerly CEO of Kiavi, is joining Figure as Chief Business Officer to direct the rollout of Kiavi’s platform across the network. Figure CEO Michael Tannenbaum noted that the integration accelerates the company’s roadmap as the industry looks to scale within the $35 trillion home equity market.
Figure confirmed that its previously issued Q3 Consumer Loan Marketplace guidance does not currently account for Kiavi’s contributions. Management intends to provide a full financial reconciliation during the Q3 2026 earnings results.
The Institutional RWA Blueprint
The platform relies on $YLDS, which is a yield-bearing stablecoin that holds SEC registration as a security pursuant to the Securities Act of 1933. In addition, the firm achieved triple-A grades from Moody’s and S&P concerning several loan securitizations, marking an unprecedented milestone for distributed ledger finance.
By absorbing Kiavi’s infrastructure—which handles residential transition and debt service coverage ratio (DSCR) loans—Figure is positioning its marketplace to capture high-margin debt issuance.
