Image and Hastra add auto loans to Tokenized credit platform
Blockchain-based lender Image Technology Solutions and Hastra onchain credit platform are adding car loans to their tokenized credit marketplace, expanding decentralized finance (DeFi) investors beyond home equity products to real-world assets (RWAs).
Democratized Prime, a decentralized credit marketplace in Figure Markets, is adding auto finance as its first new asset class as part of its plan to build a marketplace where a variety of consumer credit can be bought, sold and financed, according to an announcement shared with Cointelegraph on Tuesday.
Image CEO Michael Tanenbaum said the platform has generated more than $22 billion in on-chain loans, adding, “We've been building for this purpose.”
The move is an early test of whether virtual personal credit can move beyond home equity products into mainstream consumer lending, a shift that could expand Defin's real-world product reach but also introduce credit risks to subprime lending markets.
Image Hastra launched in 2025, with an official debut and release later that year. Originally launched on Solana (SOL), the platform was built as an extension of the Image lending ecosystem, leveraging its loan origination and lending infrastructure to bring RWAs onchain.
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Hastra extends to EVM chains
At the same time, Hastra is expanding into Ethereum-compatible (EM) chains, opening up access to the larger DeFi ecosystem and bringing the existing credit system, including mortgage exposure, to new chains.
An Image spokesperson told Cointelegraph that Hastra will start with Ethereum (ETH) as part of its push into EMM chains. They also confirmed that the auto finance product will launch on Solana before it is distributed on Ethereum around June.
Still, consolidating consumer credit does not eliminate the underlying risks associated with the assets. Non-prime auto loans can carry high default rates, especially in weak economic conditions.
There are also questions about regulation, transparency and how these blockchain-based credit products will perform in stressful or volatile market conditions.
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Image from Bernstein received an optimistic view
Earlier this month, analysts at Bernstein Image assigned the blockchain-based lender an “outperform” rating and a $67 price target, saying it could double its recent trading price. The bullish outlook follows growth in the tokenized lending business, with loan originations exceeding $1.2 billion in March and first quarter volumes reaching $2.9 billion.
FIG went public on September 11, 2025, and is listed on the Nasdaq under the ticker symbol FIGR.
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