Figure vs Arch (Standard)
A low-rate qualified-custodian loan against a higher-LTV loan from a public company.
Rates as of June 2026 · Verified weekly · By Michael Song
Figure$100k loan, 50% LTV · Max LTV 75%
Arch (Standard)$100k loan, 50% LTV · Max LTV 60%
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The bottom line
Arch (Standard) starts cheaper (around 7.25% vs 10.0%) and holds collateral with Anchorage, a qualified custodian. Figure allows a higher max LTV (75% vs 60%) and is run by a Nasdaq-listed company, but it holds collateral itself via Fireblocks MPC rather than an independent custodian. Pick Arch for the lower rate and third-party custody; pick Figure if you need the extra leverage.
Conditional guidance, not a recommendation. The right pick depends on your loan size, LTV, state, and what you value most. Rates can change; the table below is the live source.
Figure vs Arch (Standard), side by side
| Figure | Arch (Standard) | |
|---|---|---|
| Effective APR$100k loan, 50% LTV, all-in | 10% | 10.49% |
| Starting APR | 10% | 7.25% |
| Origination fee | 0.85% | 1.49% |
| Liquidation fee | 2% | 2% |
| Max LTV | 75% | 60% |
| Custody model | Lender-held (Fireblocks) | Qualified custodian (Anchorage Digital) |
| Rehypothecation | No | No |
| Margin-call cure window | Not published | 24 hours |
| Funding speed | Not published | Same day to 1 day |
| Minimum loan | Not published | $5,000 |
| Maximum loan | No stated maximum | No stated maximum |
| Loan terms | 12-month term | 1 to 12 months; interest-only; rollover available at maturity |
| Prepayment | Not published | No prepayment penalty |
| Operating since | 2018 | 2023 |
| Availability | 39 states (excludes 11) | 39 states (excludes 11) |
Rates and fees
On a $100,000 loan at 50% LTV, Figure is the cheaper borrow: an all-in effective APR of about 10% versus 10.49% at Arch (Standard), a gap of roughly 0.49 points before fees. Origination fees differ: 0.85% at Figure versus 1.49% at Arch (Standard).
Custody and counterparty risk
Figure holds collateral via lender-held (Fireblocks), while Arch (Standard) uses qualified custodian (Anchorage Digital). Neither rehypothecates collateral.
Loan terms and flexibility
Figure offers 12-month term; Arch (Standard) offers 1 to 12 months; interest-only; rollover available at maturity.
Leverage, limits, and speed
Figure allows the higher maximum LTV (75% vs 60%), so you can borrow more per Bitcoin, at the cost of a thinner buffer before a margin call if the price falls.
Track record and availability
Figure has the longer history, operating since 2018 versus 2023. On availability, Figure is not available in 11 states, while Arch (Standard) excludes 11.
Strengths and trade-offs
Figure
- Publicly traded (Nasdaq: FIGR, $7.6B IPO Sept 2025)
- Fireblocks MPC custody, operated by Figure; no rehypothecation
- No credit check on crypto-backed loan
- Same-day approval available
- HELOC variant with optional BTC pledge available
- Fireblocks MPC custody is operated by Figure, not an independent third-party qualified custodian
- 2% processing fee applies to any collateral sold in a margin call or liquidation
- Excluded from several states including TX and NY (verify current Figure Markets availability)
- HELOC variant is not a purchase mortgage
Arch (Standard)
- Anchorage Digital qualified custody
- $100M Lloyd's of London insurance
- Zero rehypothecation, explicit policy
- Segregated wallets
- $75M raised (2024)
- 1.5% origination fee plus 2.5% liquidation fee
- Not available in CA, DE, MS, MT, NV, ND, RI, VT
- Company founded 2023
About each lender
Figure
Publicly traded on Nasdaq (FIGR; $7.6B IPO Sept 2025). Crypto-backed loans are offered through Figure Markets; collateral is held via Fireblocks MPC custody, operated by Figure itself rather than an independent qualified custodian, and is not rehypothecated. No credit check. 12-month term. Also offers a HELOC product where BTC can be posted in escrow alongside home equity.
Arch (Standard)
Bitcoin-backed loan with Anchorage Digital qualified custody, segregated wallets, $100M Lloyd's of London insurance, and explicit no-rehypothecation policy. Multi-collateral: BTC, ETH, SOL.
Frequently asked
Is Figure or Arch (Standard) cheaper?
On a $100,000 loan at 50% LTV, Figure is cheaper, with an all-in effective APR of about 10% versus 10.49%.
Which has lower custody risk, Figure or Arch (Standard)?
Figure uses lender-held and Arch (Standard) uses qualified custodian. Neither rehypothecates pledged collateral.
Can I borrow more with Figure or Arch (Standard)?
Figure allows the higher maximum LTV (75% versus 60%), so you can borrow more per Bitcoin pledged. The trade-off is a thinner buffer before a margin call if Bitcoin's price drops.
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borrowonbitcoin.com is a comparison publisher, not a lender or financial advisor. Rate data verified June 9, 2026. How we verify rates · Full disclosures.