Deep Dive: What Does Figure ($FIGR) ACTUALLY Do?

Figure Technologies, a blockchain tech company, aims to revolutionize Wall Street by leveraging blockchain to make financial processes faster and cheaper. While its grand vision is broad, Figure's primary business revolves around HELOC loans, constituting 99% of its lending activities. The company has gained significant market share from traditional banks due to its speed and cost advantages, funding HELOCs in a median time of 10 days at an average cost of $730 per loan. Despite current success driven by high interest rates and home valuations, Figure faces potential risks from changing macroeconomic conditions and is diversifying into areas like digital asset marketplaces and crypto lending to expand its business model beyond HELOCs.