Nexo charges 6.9%–18.9% APR with $0 origination fees using custodial. Figure charges 9.99%–12.62% APR with a 1% origination fee using mpc custody (segregated). See the full breakdown of rates, thresholds, and custody risk below.
Rates verified 2026-05-14
Figure advertises a lower headline rate at 9.99%–12.62% compared to Nexo's 6.9%–18.9%. However, Nexo's lowest rates require loyalty tier qualifications, and most borrowers pay significantly more than the headline rate. On a $1M loan held for 12 months, Figure saves $29,100 in total first-year cost (interest plus origination fees).
Figure structures rates by LTV ratio rather than loan amount, so the rate depends on how much collateral you pledge relative to the loan. Total year-1 cost includes both annualized interest and any origination fees charged upfront.
| Loan Size | Nexo APR | Figure APR | Nexo Total Year-1 Cost | Figure Total Year-1 Cost | Savings |
|---|---|---|---|---|---|
| $100,000 | 13.9% | 9.99% | $13,900 | $10,990 | $2,910 with Figure |
| $250,000 | 13.9% | 9.99% | $34,750 | $27,475 | $7,275 with Figure |
| $500,000 | 13.9% | 9.99% | $69,500 | $54,950 | $14,550 with Figure |
| $1M | 13.9% | 9.99% | $139,000 | $109,900 | $29,100 with Figure |
| $5M | 13.9% | 9.99% | $695,000 | $549,500 | $145,500 with Figure |
Total year-1 cost includes annualized interest plus origination fees. Figure: 1% origination fee. Rates sourced from each lender's public rate pages as of 2026-05-14.
Both Nexo and Figure use similar custody approaches: custodial and mpc custody (segregated) respectively. Nexo uses Custodial. Your Bitcoin is held by Nexo and could be at risk in the event of a hack, insolvency, or regulatory action. Nexo also rehypothecates deposited assets, meaning your collateral may be lent to third parties. Figure uses MPC custody (segregated). Your Bitcoin is held by Figure and could be at risk in the event of a hack, insolvency, or regulatory action.
Nexo triggers margin calls at 71.4% LTV and liquidates at 83.33% LTV. Figure triggers margin calls at 70% LTV and liquidates at 85% LTV. Figure gives borrowers 24 hours to respond to a margin call. Nexo uses threshold-based triggers without a fixed response window.
| Threshold | Nexo | Figure |
|---|---|---|
| Max Starting LTV | 50% | 75% |
| Margin Call | 71.4% LTV | 70% LTV |
| Margin Call Window | Threshold-based | 24 hours |
| Liquidation | 83.33% LTV | 85% LTV |
Nexo: 33.3 percentage point buffer between starting LTV (50%) and liquidation (83.33%). Figure: 10.0 percentage point buffer between starting LTV (75%) and liquidation (85%). Nexo provides a wider safety margin.
Choosing between Nexo and Figure requires evaluating total cost, custody risk, and which platform aligns with your borrowing profile. Nexo uses custodial with 6.9%–18.9% APR, while Figure uses mpc custody (segregated) with 9.99%–12.62% APR.
On a $250,000 loan, Figure costs $27,475 in the first year versus $34,750 at Nexo, a difference of $7,275.
Both platforms use similar custody approaches. Nexo operates via custodial, and Figure uses mpc custody (segregated). Nexo rehypothecates collateral.
Nexo is the better fit for borrowers who need smaller loans or instant access. Figure is the better fit for borrowers who need smaller loans or more flexible access.
Key details to be aware of: Nexo: Base tier 18.9% is the rate most users actually get. Figure: Figure Markets. APR 9.
Figure is cheaper. On a $500,000 loan held for 12 months, Nexo costs $69,500 (13.9% APR) while Figure costs $54,950 (9.99% APR + 1% origination fee). That is a $14,550 difference in the first year.
Nexo uses custodial and rehypothecates deposited assets. Figure uses mpc custody (segregated). Both platforms present similar custody risk profiles.
Nexo's minimum loan is $50. Figure's minimum is $5,000. Nexo is more accessible for smaller borrowers.
Nexo issues a margin call at 71.4% LTV (threshold-based, no fixed window) and liquidates at 83.33% LTV. Figure issues a margin call at 70% LTV with a 24-hour response window and liquidates at 85% LTV. Starting from a 50% LTV, Nexo provides a 33-point buffer before liquidation, while Figure provides a 35-point buffer.
It depends on your priorities. Nexo (6.9%–18.9% APR, custodial, min $50) is better for borrowers who value custodial and need smaller loan access. Figure (9.99%–12.62% APR, mpc custody (segregated), min $5,000) is better for borrowers who value mpc custody (segregated) and need smaller loan access. Use the rate table and cost comparison above to model your specific scenario.
Already borrowing with Figure? See your interest savings, terms head-to-head, and counterparty risk on your own numbers.
Open Compare LendersLygos offers 10% APR, $0 origination fees, and DLC-secured collateral where rehypothecation is cryptographically impossible.