Figure and Leading Crypto Partners Launch RWA Consortium for Onchain Finance on Solana

Core Viewpoint - Figure Technology Solutions, Inc. has launched an RWA consortium to enhance access to over $1 billion in monthly on-chain loan originations, starting on the Solana blockchain, aiming to democratize access to institutional-grade yields for DeFi users [1][2][6] Group 1: RWA Consortium and Its Objectives - The RWA consortium aims to support the adoption of the PRIME token, a liquid staking token developed in partnership with Hastra and the Provenance Blockchain Foundation [1][4] - The initiative is part of Figure's strategy to bring capital markets on-chain and expand its RWA ecosystem across multiple blockchains, integrating with Layer 1 networks like Solana [2][4] - The consortium will focus on community engagement, education, and adoption through reward programs and events, including a physical debut at Solana Breakpoint [7] Group 2: Financial Metrics and Market Position - Figure has originated over $19 billion in on-chain loans to date and holds a 70% market share in the RWA private credit sector, positioning it as a leader in bridging traditional credit markets with DeFi [2][8] - The company provides access to yields generated from its $1 billion+ monthly on-chain loan originations through the Democratized Prime platform [5][8] Group 3: Partnerships and Technological Integration - Kamino Finance will act as the exclusive on-chain credit and lending partner, enhancing the utility of the PRIME token across its product offerings [5][12] - Chainlink will serve as the official oracle infrastructure for Hastra's yield products, ensuring high-integrity data and enabling cross-chain interoperability [5][12] - Other partners include Raydium for liquidity infrastructure, CASH for stablecoin support, and Gauntlet for risk management, collectively enhancing the ecosystem for RWA tokens on Solana [12]