Auto Loans Go On-Chain in Landmark Move for $1.6 Trillion Market

ARLINGTON, Texas – March 26, 2026 – By Patrick Griffin

The abstract world of blockchain technology has officially collided with the concrete reality of the American highway. In a move heralded as an industry first, fintech firm Agora Data announced today that consumer auto loans are now publicly available as tokenized, on-chain assets on Figure's blockchain marketplace. This development transforms a traditionally illiquid, opaque financial instrument into a real-time, investable asset, potentially unlocking new streams of capital and transparency for the $1.6 trillion U.S. auto loan market.

Effective immediately, qualified investors can gain exposure to this new asset class through the DemoPrime portal on the Figure platform. The launch marks the first tangible outcome of a strategic partnership between Agora and Figure announced just last month, moving from concept to public execution with remarkable speed. This initiative aims to fundamentally alter the structure of auto finance, shifting car loans from the secluded balance sheets of financial institutions into an open, verifiable digital marketplace.

From Liability to Liquid Asset

Traditionally, an auto loan has existed as a liability on a lender's books—a predictable cash-flow generator, but one locked within a closed system. Access was limited to large institutions, and transparency into the performance of the underlying assets was often difficult to obtain. The process of securitizing these loans has long been a complex, costly, and slow-moving endeavor.

By placing these loans on a blockchain, Agora and Figure are converting them into digitally represented, verifiable assets known as Real-World Assets (RWAs). Each tokenized loan carries a unique digital identity on the Provenance Blockchain, the infrastructure underlying Figure’s marketplace. This creates an immutable record of ownership and performance, visible in real time. The assets are delivered through ALTRUVO™, Agora Data’s proprietary platform built on Figure's technology, which integrates the company's AI-driven underwriting and financing intelligence.

“This achievement represents a structural transformation in auto finance,” said Steve Burke, Chief Executive Officer of Agora Data, in the company’s official announcement. “Auto loans are no longer confined to closed balance sheets traditionally held and managed inside financial institutions. Bringing them on-chain enables transparency, intelligence, and broader participation.”

Building Trust with AI and Transparency

One of the most significant aspects of this initiative is its application to the non-prime auto sector, a market segment often perceived as carrying higher risk. Agora aims to counter this perception by embedding layers of verification and intelligence directly into the on-chain assets.

The company is leveraging its proprietary AI-powered analytics not only for initial loan origination but also to serve as the preferred third-party review partner for all auto loan assets on the Figure platform. This dual role is designed to build investor confidence. Agora’s systems provide independent asset verification, ongoing performance tracking, and crucial safeguards against issues like double-pledging—where a single asset is fraudulently used as collateral for multiple loans. This ensures each tokenized loan is uniquely represented and accurately validated.

This level of built-in integrity is central to the platform's appeal. For decentralized finance (DeFi) participants and other qualified investors, the ability to view and lend against these validated assets on the Figure platform promises to create a more liquid and operationally efficient market.

“Public availability is a defining characteristic for blockchain-based capital markets,” noted Todd Stevens, Chief Capital Officer of Figure. “Agora’s underwriting rigor, data discipline, and independent asset review capabilities support investor confidence. Auto loans are a compelling expansion of blockchain-enabled structured finance, grounded in real-world performance.”

Navigating an Uncharted Regulatory Sea

While the technological breakthrough is significant, the path to widespread adoption is paved with regulatory questions. The tokenization of real-world assets operates in a legal gray area, with U.S. regulators like the Securities and Exchange Commission (SEC) still formulating a comprehensive framework. Current guidance suggests that tokenizing an asset does not change its fundamental nature; if an auto loan portfolio is considered a security, its tokenized version remains a security.

This regulatory uncertainty is the primary reason why access to these new on-chain auto loan assets is currently restricted to “qualified market participants” rather than the general public. This approach, which typically includes accredited investors and institutions, allows Agora and Figure to innovate while adhering to existing securities laws. The industry is watching closely for further clarity, such as the proposed CLARITY Act, which seeks to define jurisdiction between the SEC and the Commodity Futures Trading Commission (CFTC) for digital assets.

Despite these hurdles, the potential for growth is immense. The global asset tokenization market is projected by some analysts to grow into a multi-trillion-dollar industry by 2030. Figure has already demonstrated its platform's power, originating over $22 billion in home equity financing and seeing its consumer loan marketplace volume double year-over-year in the last quarter of 2025.

The Future of Finance Is Arriving

Agora Data's launch is a pioneering step in a much larger financial evolution. Other players are entering the space, with firms like ETHZilla planning similar integrations of AI and blockchain for auto-loan tokenization. However, by being first to market with publicly available assets, Agora and Figure have set an important precedent. Their collaboration demonstrates a viable path for moving complex structured finance products from opaque, centralized systems to transparent, decentralized networks.

The public launch establishes a foundation for continued expansion, with plans to add more auto loan assets over time to increase liquidity and broaden participation. By successfully bridging the gap between traditional auto finance and blockchain-based capital markets, Agora Data and Figure have not just created a new investment product; they have provided a compelling glimpse into the future of how real-world value is financed, traded, and managed.