Apollo Global, Figure Lending execute mortgage transactions via blockchain

Private equity giant Apollo Global (NYSE:APO) and financial services firm Figure Lending on Thursday have completed a transaction involving the origination of digital mortgage loans and transfer of ownership using blockchain technology. Figure, started in 2018, has started originating eNote mortgages that are on-boarded as unique digital assets on the Provenance Blockchain. It is also auto-registered with Digital Asset Registration Technologies ("DART"), a lien and eNote registry system monitoring blockchain-specific asset transfers. In an effort to "improve efficiency in the mortgage and lending ecosystem," Apollo (APO), through investment vehicles it manages, has bought these digital assets through a blockchain-based marketplace, said Apollo Partner Robert Bittencourt. Previously, (July 28, 2021) Apollo invested in Figure Technologies' $200M fundraise.