Type
- FIGURE
- Loan (CeFi, fixed term)
- SURGE
- Credit Line (non-custodial)
Compare Surge
Credit with..
$100$1,000,000
| Factor | Figure | Surge Credit |
|---|---|---|
| Lending | ||
| Type | Loan (CeFi, fixed term) | Credit Line (non-custodial) |
| Interest Rate | Varies by LTV (not public) | From 6.9% APR (Variable) / 9.9% (Fixed) |
| Origination fee | Not clearly disclosed | None |
| Duration | Fixed term | 12 months, rollover anytime |
| Terms | Fixed repayment. 2% liquidation fee. | Repay any amount, anytime. No liquidation fee. |
| Fast access to funds | 24–48 hours | ~30 min |
| LTV flexibility | ✓ Up to 75% | 50% (expanding) |
| Globally accessible | ✗ US focused | ✓ |
| KYC required | Yes | No |
| Bitcoin Custody | ||
| Custodian | Figure Markets wallet (CeFi) | Bitcoin (Taproot vault) |
| On-chain verifiable collateral | ✗ | ✓ |
| Segregated collateral | ✗ | ✓ |
| Bitcoin-native (no wrapping) | Collateral deposited into Figure Markets wallet - platform-controlled | ✓ |
| Zero rehypothecation | Not clearly disclosed in public terms | ✓ Verifiable on-chain |
| Unilateral exit | ✗ | ✓ |
Lending
Interest Rate
- FIGURE
- Varies by LTV (not public)
- SURGE
- From 6.9% APR (Variable) / 9.9% (Fixed)
Origination fee
- FIGURE
- Not clearly disclosed
- SURGE
- None
Duration
- FIGURE
- Fixed term
- SURGE
- 12 months, rollover anytime
Terms
- FIGURE
- Fixed repayment. 2% liquidation fee.
- SURGE
- Repay any amount, anytime. No liquidation fee.
Fast access to funds
- FIGURE
- 24–48 hours
- SURGE
- ~30 min
LTV flexibility
- FIGURE
- ✓ Up to 75%
- SURGE
- 50% (expanding)
Globally accessible
- FIGURE
- ✗ US focused
- SURGE
- ✓
KYC required
- FIGURE
- Yes
- SURGE
- No
Bitcoin Custody
Custodian
- FIGURE
- Figure Markets wallet (CeFi)
- SURGE
- Bitcoin (Taproot vault)
On-chain verifiable collateral
- FIGURE
- ✗
- SURGE
- ✓
Segregated collateral
- FIGURE
- ✗
- SURGE
- ✓
Bitcoin-native (no wrapping)
- FIGURE
- Collateral deposited into Figure Markets wallet - platform-controlled
- SURGE
- ✓
Zero rehypothecation
- FIGURE
- Not clearly disclosed in public terms
- SURGE
- ✓ Verifiable on-chain
Unilateral exit
- FIGURE
- ✗
- SURGE
- ✓
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