Figure establishes RWA Alliance, expanding monthly on-chain loans of 1 billion USD to Solana

According to official news, the credit protocol Figure (NASDAQ: FIGR) announced the establishment of the RWA Alliance, expanding its monthly on-chain loan business of over $1 billion to Solana. The alliance aims to promote the PRIME liquid staking token, allowing ordinary DeFi users to access institutional-level yields that were previously available only to banks and qualified investors.

Alliance members include institutions such as Kamino Finance, Chainlink, Raydium, CASH, Privy, and Gauntlet, working together to promote the application of the liquid staking token PRIME based on the Hastra protocol on Solana.