Cross River expands new asset class coverage and enables Figure customers to unlock liquidity from digital assets
Cross River Bank (“Cross River”), a technology infrastructure provider that offers embedded financial solutions, announced a forward-flow agreement with Figure Technology Solutions , the leading blockchain-native capital marketplace for the origination, funding, sale, and trading of blockchain-native assets. Through this agreement, Cross River’s Principal Finance Group (PFG) has committed to purchasing up to $250 million in assets to support Figure’s Crypto-Backed Loans.
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“For many consumers who own digital assets, crypto-backed lending provides a lower cost financing option versus the alternatives. We are thrilled to support Figure as this financing tool continues to mature,” said Noah Cooper, Cross River’s CIO and Head of Capital Solutions Group.
The arrangement provides Figure with a significant source of committed capital in order to offer consumers USD liquidity without requiring them to sell their cryptocurrency holdings. Through Figure’s Crypto-Backed Loan product, borrowers can leverage their digital assets as collateral to access financing while maintaining ownership of their digital assets. For Cross River, the facility represents a continued commitment to providing capital and enabling embedded finance solutions for its clients.
“Our forward-flow commitment with Figure provides the dedicated capital to serve broad consumer demand. This structure reflects our confidence in both the asset class and Figure’s platform,” added Rahul Jha, Cross River’s Head of Principal Finance.
Cross River’s Principal Finance Group offers warehouse lines, seasoning facilities, and forward-flow purchase solutions to innovative fintech platforms. This forward-flow agreement with Figure marks the latest milestone in Cross River’s support of the digital asset ecosystem.
“We’re proud to welcome Cross River as a financing partner,” said Todd Stevens, Chief Capital Officer of Figure. “With Crypto-Backed Loans, we’ve gone from a relatively new idea – to allow borrowing against a highly popular appreciated asset – and we’ve achieved rapid adoption while creating a model that others have followed. Cross River’s involvement is a major proof point underscoring our success so far, as well as our continued upward trajectory.”
Cross River is committed to advancing innovation at the intersection of traditional finance and digital assets. Through this capital commitment, both companies are furthering their shared mission to bring crypto into the financial mainstream—giving consumers new ways to unlock the value of their digital holdings and access the liquidity they need to achieve their financial goals.
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