Huo Xing Finance reports, according to Businesswire, that fintech infrastructure company Cross River Bank has announced a $250 million forward funding commitment to Figure to support Figure’s crypto-backed lending business. Cross River will provide ongoing capital support for Figure’s crypto loans, enabling borrowers to obtain U.S. dollar liquidity without selling their crypto assets.
Cross River Provides $250M Forward Funding to Figure for Crypto Mortgage Business
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Summary
Cross River Bank has announced $250 million in forward funding for Figure to support its crypto mortgage business, according to project funding news. The agreement enables Figure to provide USD liquidity to borrowers without requiring them to sell their crypto assets. This initiative expands access to capital in the crypto sector, with Cross River supplying ongoing funding for crypto-backed loans. The partnership aims to streamline lending processes using crypto assets as collateral.
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