PANews reported on June 11 that, according to GlobeNewswire, blockchain financial platform Figure Technology Solutions has signed an agreement to acquire Kiavi, an AI-driven residential real estate lending platform, for a total transaction price of $717 million. A joint venture between Sixth Street and Figure will acquire Kiavi's balance sheet assets. Figure expects Kiavi to add over $7 billion in transaction volume annually. Following the transaction, Kiavi CEO Arvind Mohan will join Figure as Chief Business Officer.

Kiavi is reportedly an AI-driven residential real estate investment lending platform with annual loan disbursements exceeding $30 billion. Following the transaction, its residential transition and rental lending businesses will be integrated into Figure's on-chain capital markets system.