Sidley represented Cross River, a technology infrastructure provider offering embedded financial solutions, in connection with a forward-flow agreement with Figure Technology Solutions, a leading blockchain-native capital marketplace for the origination, funding, sale, and trading of blockchain-native assets. Through this agreement, Cross River’s Principal Finance Group has committed to purchasing up to US$250 million in assets to support Figure’s crypto-backed loans. The arrangement provides Figure with a significant source of committed capital to offer consumers U.S. dollar liquidity without requiring them to sell their cryptocurrency holdings, while allowing borrowers to leverage their digital assets as collateral to access financing while maintaining ownership of those assets.
The Sidley team was led by T.J. Gordon and Elizabeth Tabas Carson (Global Finance) and included Pietro Fontana, Teresa Wilton Harmon, Mara Alioto, Abby Leeds, and Neekita Bhatia (Global Finance); David Monteiro, David Teitelbaum, Kristin Teager, and Michael Cumming (Banking, Payments and Fintech).
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