CoinDesk reported that Figure, a blockchain-based online lending platform, has challenged the U.S. mortgage market. Figure explained, "Through its proprietary blockchain platform, loan costs can be reduced by approximately 91% compared to traditional methods. Home Equity Line of Credit (HELOC) applications can be approved within 5 minutes and funded within 3 days, significantly shortening the process compared to the traditional 30-45 days. Figure is primarily targeting the loan market under $300,000 and is also pursuing profitability expansion through DeFi integration and a marketplace model transition."
