Cross River Bank has expanded its support for cryptocurrency-backed financing. The New Jersey-based tech-driven financial infrastructure provider announced a forward-flow agreement to purchase up to $250 million in loans originated through Figure Technology Solutions’ (Nasdaq: FIGR) crypto collateral program. This partnership now equips Figure, a blockchain-focused capital marketplace, with reliable funding to meet rising consumer interest in borrowing against digital asset holdings.
Rather than forcing asset sales during market upswings, the program lets borrowers secure US dollar loans while retaining ownership of their cryptocurrencies, using them as collateral.
This approach offers a more affordable alternative to traditional financing options for crypto owners seeking liquidity.
Noah Cooper, Cross River’s Chief Information Officer and Head of Capital Solutions Group, emphasized the value of this emerging lending category.
He noted that crypto-backed loans deliver cost-effective capital for digital asset holders and expressed enthusiasm for backing Figure as the product gains broader acceptance.
The deal underscores Cross River’s Principal Finance Group’s expanding role in alternative asset classes.
Through warehouse lines, seasoning facilities, and forward-flow purchases, the group partners with fintechs to supply growth capital.
This arrangement with Figure represents another step in Cross River’s efforts to bridge conventional finance and the digital asset space.
Rahul Jha, Head of Principal Finance at Cross River, said:
“This forward-flow setup delivers dedicated resources to address widespread demand. It demonstrates our belief in the potential of crypto-backed lending and in Figure’s robust technology platform.”
On Figure’s side, the collab now validates the company’s steady progress in a once-novel space.
Todd Stevens, Chief Capital Officer at Figure, remarked:
“What began as an innovative concept—borrowing against popular, appreciating assets—has seen strong uptake and influenced industry standards.”
Figure operates as a comprehensive blockchain-native ecosystem connecting loan origination, funding, sales, and trading.
It enables platforms used by over 380 partners and has facilitated more than $25 billion in home equity originations alongside other offerings, positioning it as a leading non-bank provider of home equity lines of credit (HELOCs).
Key growth areas include its consumer credit marketplace and on-chain decentralized lending solutions.
The company also provides advanced tools like Digital Asset Registry Technology for custody and lien management, plus an SEC-registered yield-bearing stablecoin.
This alliance advances shared goals of mainstreaming cryptocurrency within everyday finance.
By enabling liquidity options, Cross River and Figure are helping consumers harness the value in their digital portfolios without liquidation risks, fostering greater financial flexibility in an evolving economic environment.
The announcement arrives during maturing regulatory and market conditions for digital asset products, potentially paving the way for greater institutional involvement. While availability currently remains subject to state-specific restrictions, the initiative signals overall confidence in responsible innovation at the center of blockchain tech adoption and digital banking.
