PRIME-Backed Morpho Markets Attract More Than $450 Million in Deposits

Morpho markets that accept Hastra’s PRIME token as collateral have attracted more than $450 million in deposits over about 100 days. Holders can pledge PRIME to borrow stablecoins while keeping exposure to the token’s variable return.

PRIME tracks returns from Figure’s actively managed home equity loan pools. The pools consist mainly of home equity lines of credit and other real estate lending. After a 50-basis-point fee, the token’s net yield is around 6% APY.

Hastra launched PRIME on Ethereum in May 2026 and listed it as collateral on Morpho. Vaults managed by Sentora and Galaxy Curation route PYUSD and USDC deposits into the markets, supplying stablecoins for borrowers. The $450 million figure measures deposits into the markets; PRIME serves as collateral for borrowing.

Figure has originated more than $30 billion in home equity loans. That origination figure is separate from PRIME’s exposure to Figure’s actively managed loan pools.

Reid Simon, Figure’s president of digital assets, said, “Any issuer can tokenize an asset.” Simon’s broader point was that access to credit can give a yield-bearing token a use beyond holding it: PRIME holders can seek financing without selling their position.

A separate Oct. 28 snapshot of Morpho’s broader real-world asset markets showed $2.145 billion in deposits and $894.18 million in outstanding loans, detailed in an earlier TokenPost market snapshot. Those totals cover a wider market and different measures, so they do not provide a direct comparison with deposits in PRIME-backed markets.