Figure Launches $1.6 Trillion U.S. Auto Loan Market on Solana DeFi
Figure has launched the AUTO tokenized market on Solana, bringing U.S. auto loan exposure to decentralized finance. Backed by $1.6 trillion in consumer lending, the product is secured by Chainlink Data Streams and operates on the Kamino lending protocol.
The on-chain launch marks the first time near-prime auto lending yield has been available to digital assets. Consumer lending remains the largest credit market in the United States, with the new tokenization directly mirroring traditional vehicle financing.
From the sources (2 posts)
@chainlinkNEW: @Figure is bringing the $1.6+ trillion U.S. auto loan market to DeFi, powered by Chainlink. Backed by auto loans from Figure, @HastraFi’s AUTO markets are now live and secured by Chainlink Data Streams on @kamino.
@solanaBREAKING: AUTO is live on Solana, backed by U.S. auto loans. Consumer lending is the largest credit market in the U.S., and AUTO brings near-prime auto yield onchain for the first time.