Figure Completes Kiavi Acquisition to Transform Blockchain Real Estate Lending

Figure Technology Solutions has finalized its acquisition of Kiavi, a leading residential transition loan lender, to integrate its technology into a blockchain-native capital marketplace. For fintech professionals, this move signals a significant consolidation in the tokenized asset space, aiming to standardize and scale lending within the $35 trillion home equity market using distributed ledger technology.

What was announced

Figure Technology Solutions (Nasdaq: FIGR; OPEN: FGRS) has completed the acquisition of Kiavi, following a merger agreement originally announced on June 10, 2026. The transaction involves Figure acquiring Kiavi’s technology, operating platform, and various other assets. A critical component of the deal is a joint venture between Figure and Sixth Street, a global investment firm, which has purchased loans directly off Kiavi’s balance sheet to facilitate the transition.

The integration will see the Kiavi brand and its specialized lending technologies - specifically focused on Residential Transition Loans (RTL) and Debt Service Coverage Ratio (DSCR) lending - embedded into Figure’s ecosystem. This network currently includes more than 480 active partners. These technologies will be accessible through Figure Connect, the company’s blockchain-native marketplace designed for the origination, funding, and trading of tokenized assets.

Leadership changes accompanying the deal include Arvind Mohan, formerly the CEO of Kiavi, joining Figure as Chief Business Officer. In this role, he will oversee the rollout of the Kiavi platform across Figure’s broader partner network. While Figure’s previously issued Q3 2026 guidance for its Consumer Loan Marketplace did not account for this acquisition, the company has stated it will update its financial outlook to reflect the combination during its Q3 quarterly results.

"Adding Kiavi’s talent, platform, and technology to Figure greatly accelerates our roadmap by expanding our marketplace. Ever since we announced the deal, we have observed a groundswell of excitement from our partners as we collectively look to standardize and grow within the $35 trillion home equity market. That feeling is mutual, and now it’s time to execute."

Michael Tannenbaum, Figure CEO.

The companies involved

Figure Technology Solutions, Inc. operates as a blockchain-native capital marketplace. The firm focuses on the entire lifecycle of tokenized assets, from origination to sale and trading. It is listed on the Nasdaq exchange. Kiavi, previously known as a dominant player in the Residential Transition Loan sector, provides a technology-driven platform for real estate investors. Its systems are designed to provide liquidity and streamlined financing for residential property projects.

Sixth Street is a leading global investment firm that participated in this transaction through a joint venture. The firm often engages in complex capital solutions and balance sheet management for financial institutions. The broader market context for this deal involves major infrastructure providers like Nasdaq, a global technology company serving capital markets, and Moody’s, which provides credit ratings and risk assessment tools. These entities form the backbone of the traditional and emerging financial markets that Figure aims to bridge through its blockchain-native marketplace and ecosystem of nearly 500 partners.

What FF News has reported before

FF News has recently covered several developments involving the key market players in this transaction. We reported on the expansion of exchange capabilities when Nasdaq Completes Acquisition of Dasseti to Enhance AI Due Diligence Capabilities. The exchange's broader initiatives were also highlighted when the Money Confidence Project & Nasdaq Foundation Launch 'The Investment Quest' Video Series. Furthermore, the evolving landscape of credit assessment was noted as Moody’s Awards Freedom Holding Corp. First Investment-Grade Rating for Insurance Subsidiaries, demonstrating the critical role of ratings agencies in validating new financial structures.

What this means

This acquisition represents a pivotal moment for the tokenization of real-world assets (RWA). By absorbing a major RTL lender like Kiavi, Figure is moving beyond the experimental phase of blockchain in finance and into large-scale operational utility. The move puts traditional mortgage and transition loan providers under pressure to justify their manual, legacy processes against a blockchain-native competitor that promises greater liquidity and standardization. The industry must now consider whether the $35 trillion home equity market can truly be migrated to distributed ledgers, or if the inherent complexities of residential real estate will resist the efficiencies that Figure and its partners aim to implement.