Cross River committed up to US$250 million for crypto-backed loans from Figure Technology Solutions, providing liquidity options and capital support.
| Acquirer | Cross River (US, New Jersey) |
|---|---|
| Target | Figure Technology Solutions (US, San Francisco) |
| Deal Value | $250m |
| Type of Deal | Investment |
| Close Date | July 23, 2026 |
| Announcement Date | July 23, 1976 |
| Buy-side Financial Advisors | Not Disclosed |
| Sell-side Financial Advisors | Not Disclosed |
| Buy-side Legal Advisors | Sidley Austin |
| Sell-side Legal Advisors | Not Disclosed |
Cross River, a private equity-backed technology infrastructure provider based in New Jersey, entered into an agreement to purchase up to $250 million worth of crypto-backed loans from Figure Technology Solutions. The deal allows borrowers to leverage their digital assets as collateral without selling them, thereby providing liquidity options and enhancing capital efficiency for both companies.
Deal Mechanics
The forward-flow commitment involves Cross River’s Principal Finance Group purchasing up to $250 million in crypto-backed loan assets over an indefinite period. This arrangement offers Figure a steady source of committed capital, enabling it to scale its operations and offer flexible financing options to consumers.
Strategic Rationale
The deal is expected to fortify Cross River’s position in the fintech sector by expanding its asset portfolio with blockchain-native assets. For Figure, this commitment provides critical financial support, enhancing its ability to manage risk and deliver innovative lending solutions that maintain borrower ownership of digital assets.
Financial Context
The transaction underscores the growing importance of crypto-backed loans in the fintech landscape as traditional lenders increasingly seek diversified asset classes. Cross River’s involvement signals a strategic move towards integrating blockchain technology into its financial infrastructure, aligning with broader industry trends.
Advisors
Sidley Austin acted as legal advisor to Cross River on this transaction. No details were disclosed regarding the sell-side advisors or legal representation for Figure.
Outlook
The partnership is expected to foster further innovation in blockchain and fintech, potentially setting a precedent for similar arrangements within the industry. Both companies are optimistic about leveraging their strengths to expand offerings and deepen market penetration.