Blockchain based $1B loan credit was successfully completed by San Francisco based Figure Technologies.
The Provenance blockchain is to handle the full spectrum of loan facilities to banks, dealers, funds.
Figure will provide end-to-end loan financing to credit funds, asset managers, banks, via its legacy blockchain platform. In the pilot in April 2019, close to $60 million were distributed.
Asset-backed loans on the blockchain are becoming increasingly popular wordwide.