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By Michael Tannenbaum, CEO, Figure, and Steve Burke, CEO, Agora Data
Auto finance is a $1.6 trillion market in the United States — essential to the economy, auto industry, and millions of consumers. Yet much of its capital markets plumbing still relies on fragmented warehouse lines, manual verification processes, and takeout structures that add friction and cost.
That legacy infrastructure slows growth and constrains profitability across the ecosystem. More concerning, a reliance on trust over truth has recently exposed even deeper cracks, most notably through loan double-pledging schemes that resulted in high-profile auto lender bankruptcies.
Agora Data has already helped move the market forward, reshaping non-prime auto lending through crowdsourced capital, embedded finance platforms in car dealerships, and structured finance innovation. At Figure, we’ve focused on complementary ambitions: modernizing capital markets through blockchain.
Together, this partnership strengthens not only how auto contracts are originated, but also the infrastructure beneath them. The result is a more efficient, transparent pathway for origination and funding that benefits dealers, originators, investors, and borrowers alike.
For more information on ALTRUVO™, visit https://agoradata.com/altruvo.
Building a capital markets highway
Figure marketplace was built to standardize how consumer finance assets are funded, financed, and sold, independent of asset type. Auto contracts are ingested, tokenized, and recorded on a blockchain registry that establishes verifiable ownership and prevents duplicate pledging.
Once recorded, assets can access warehouse-style funding, whole contract buyers, and securitization pathways within a single, transparent framework. Integrating Agora auto originations into this system demonstrates how the marketplace functions as a capital markets highway capable of supporting multiple origination on-ramps.
Execution compounds at scale
For Agora, integrating with blockchain-based infrastructure enhances an already advanced funding and execution platform. Standardized auto contracts gain access to decentralized funding channels, whole contract execution, and securitization within a unified ecosystem.
Increased transparency drives greater competition for assets, supporting improved pricing, consistency, and faster funding velocity over time. Importantly, Agora retains full control over origination, underwriting, and servicing. The dealer network remains central to the model.
Adding a New High-Speed On-Ramp
For Figure, the partnership reinforces a marketplace-first growth strategy. Auto finance represents a natural next step in extending blockchain-native infrastructure to externally originated consumer finance assets.
Using blockchain to establish a perfected lien on vehicle collateral aligns closely with Figure experience in housing-related assets. By partnering with Agora, Figure enters a $1.6 trillion asset class without building a new loan origination system or placing contracts on its balance sheet.
The collaboration is expected to bring tens of millions of dollars in auto finance volume to Democratized Prime and Figure Connect. This expands distribution by connecting assets to liquidity rather than by accumulating balance sheet exposure.
Outcomes across the ecosystem
For dealers and originators, this partnership delivers more reliable funding access and improved economics. For investors, it offers exposure to high-quality auto finance portfolios within a verifiable and transparent structure. For borrowers, it supports easier access to credit and more efficient pricing.
Standardization goes far beyond surface-level consistency. By reducing friction and increasing competition for assets, execution improves over time. As more consumer credit portfolios move onto blockchain-native rails, markets become more transparent, more liquid, and more resilient.
Auto finance has always been about movement. Vehicles move people, and funding moves transactions. Modern infrastructure ensures that funding can move with the same efficiency as every other part of the transaction.
The road ahead is paved on-chain.