CoinDesk reported that Figure, a blockchain-based online lending platform, has challenged the US mortgage market. Figure explained, "Through our proprietary blockchain platform, we can reduce loan costs 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 traditional 30-45 day process. We are primarily targeting the loan market under $300,000 and are also pursuing profitability expansion through DeFi integration and a marketplace model transition."
