figUSDC

figUSDC turns USDC into institutional-grade yield at a fixed 10% APY, sourced from US residential HELOCs underwritten to Figure Markets' unified credit standard. Figure is a NYSE-listed US fintech and the builder of the Provenance blockchain.

HELOCs are originated through Figure's 300+ partner network — super-prime borrowers, weighted FICO 754, secured by home equity — and funded by Figure's warehouse under a single unified credit standard. Non-performing loans are swapped out of the pool before holders are exposed to default risk; performing loans cycle through the warehouse with an average duration of ~42 days before exiting into senior securitization tranches that carry S&P AAA ratings. Figure applies the same credit standard to its institutional warehouse facilities at Goldman Sachs and Jefferies. Democratized Prime has had zero realized losses since launch.

How the 10% works: your USDC mints PRIME, Figure's yield-bearing warehouse receipt token. PRIME yields the underlying HELOC pool's blended rate. A bilateral credit facility with a top-tier US prime broker provides the leverage layer at institutional terms — bilateral, not subject to on-chain liquidation mechanics. Net of facility cost, performance fee, and operational costs: 10% fixed to LPs, without reliance on DeFi lending markets or oracle-driven liquidations.

Strategy

Fixed yield

Credit source

Figure Markets

Structure

Bankruptcy-remote

Allocation snapshot is illustrative — live data loading.