Cross River Bank Extends $250M Commitment for Figure's Crypto Loans
FIGR sits 26% above its 52-week low of $25.01 on light trading volume (0.2× avg).
Summary
Cross River Bank has extended a $250 million forward-flow commitment to Figure Technology Solutions for its crypto-backed loans. This significant capital commitment provides Figure with substantial funding to originate and expand its core crypto-backed lending business. This follows Figure's strong Q1 2026 results, which showed a return to profitability and significant revenue growth, and its recent expansion into new tokenized credit offerings like auto loans. The commitment underscores continued institutional support for Figure's blockchain-based financial services and its growth trajectory in the digital asset lending space.
At the time of this announcement, FIGR was trading at $31.52 on NASDAQ in the Finance sector, with a market capitalization of approximately $7B. The 52-week trading range was $25.01 to $78.00. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.