Figure launches Solana-based real-world asset consortium

U.S. blockchain lending platform Figure has announced the launch of a consortium for real-world assets (RWA) on the Solana blockchain. The collaborative body aims to expand access to more than $1 billion in monthly on-chain loans and support the adoption of its PRIME liquid staking token. PRIME is built on the Hastra liquidity protocol, which Figure co-developed with the open-source Provenance Blockchain Foundation. Consortium partners include Kamino Finance, Chainlink, CASH, Raydium, Privy, and Gauntlet. Figure stated that the initiative will allow general DeFi users to access institutional-grade returns previously available only to banks and accredited investors.