Figure Technologies is acquiring real estate lender Kiavi in a $717 million deal aimed at expanding its real-world asset tokenization network. By moving Kiavi's mortgage assets onto a blockchain, Figure expects to cut operational costs while preserving a capital-light, high-margin business model. Kiavi specializes in short-term loans for residential property investors, giving Figure a significant portfolio of real estate assets to tokenize. The acquisition signals growing institutional appetite for bringing traditional financial instruments onchain, with RWA tokenization emerging as one of the fastest-growing sectors in crypto. Figure has previously tokenized home equity loans and other financial products on its Provenance Blockchain, and the Kiavi deal would substantially increase the volume of assets processed through that infrastructure.
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