NUVA Launches HOME Token for Offshore Investors in U.S. Mortgage Market

Finance NUVA Launches HOME Token for Offshore Investors in U.S. Mortgage Market

The HOME token allows eligible investors to access a pool of U.S. home equity lines of credit starting at just 1 USDC, with a target annual yield of 7%.

By Olivier Acuna | Edited by Sheldon Reback Oct 8, 2026, 7:36 a.m. EDT 3 min read

The HOME token opens the U.S. home loan market to international investors for as little as 1 USDC. (Jakub Żerdzicki/Unsplash)

• NUVA’s HOME token provides eligible non-U.S. investors access to a managed pool of home-equity lines of credit from Figure, starting at 1 USDC.
• This ERC-20 token aims for a 7% annual return, which resets monthly, and allows withdrawals without a lockup period, featuring a 5% buffer against vault losses.
• HOME token holders do not own specific loans and are still subject to credit and liquidity risks despite borrower standards and a 5% liquidity reserve.

NUVA, a real-world asset marketplace developed by Animoca Brands and Nuva Labs, has unveiled a new token that allows foreign investors to engage in U.S. home-equity loans, with a minimum investment of only 1 USDC.

The HOME token provides holders with access to a pooled investment vehicle that will initially consist of home equity lines of credit (HELOCs) sourced from Figure Technology Solutions. NUVA aims for a 7% annual return from these loans, with the target adjusting monthly. The vault’s net asset value, which reflects interest income and loan performance, will dictate the token's price.

HELOCs enable homeowners to borrow against their property equity, granting access to a line of credit for a specified duration, typically at a variable interest rate. According to Federal Reserve Economic Data, the total value of HELOCs in the U.S. reached $460 billion in the second quarter.

While HOME does not grant holders ownership of individual loans, it allows exposure to the collective investment. This is significant as it transforms an asset class typically accessed through securitizations or private credit funds into a managed offering within decentralized finance (DeFi).

“Traditional securitization has primarily catered to institutional investors,” explained Nuva Labs CEO Anthony Moro in a conversation with CoinDesk. “For individual investors, these structures can be challenging to access.”

Removing Barriers

HOME is not the first tokenized private credit offering; Maple Finance has created on-chain lending pools for institutional borrowers, and Centrifuge has facilitated the tokenization of credit and structured products. Figure has also begun tokenizing HELOCs on its Provenance blockchain. However, HOME distinguishes itself by how it structures this exposure, allowing eligible non-U.S. users to access a managed vault of Figure-originated home-equity loans with just 1 USDC, instead of needing to purchase entire loans or invest via traditional private credit funds.

“HOME holders do not directly own the underlying loans,” Moro, a former BNY Mellon executive, emphasized. “They hold HOME tokens that provide access to the assets in the vault.”

NUVA is focusing on linking Figure-originated assets to public blockchain ecosystems. HOME serves as a trial to determine whether crypto users are interested in a tradable, composable token that follows Ethereum's ERC-20 standard instead of relying on conventional funds.

Read more: Former BNY exec launches NUVA, bets tokenization will remake Wall Street

NUVA is confident about tapping into DeFi's demand for yield without needing to generate demand for the loans themselves. Figure’s consumer-loan marketplace processed $4.3 billion in volume during the second quarter, with $2.8 billion coming from Figure Connect, where whole-loan buyers and securitization investors acquire loans.

“HOME is not attempting to create residential credit demand from scratch,” Moro stated. “It is leveraging an asset class that already enjoys significant institutional interest and making that available through a more accessible on-chain structure.”

The underlying market is also seeing growth, with U.S. HELOC balances increasing by $13 billion in the second quarter, marking the 17th consecutive quarterly rise, as reported by the New York Fed.

Exclusively for Non-U.S. Users

HOME will only be accessible to eligible non-U.S. users. Exclusions apply to residents of the U.K., Hong Kong, China, the British Virgin Islands, and sanctioned jurisdictions, according to Moro. NUVA plans to enforce these restrictions through wallet screening and IP address blocking.

The initial portfolio for HOME will focus on HELOCs with an average FICO score of at least 735, a combined loan-to-value ratio not exceeding 69%, and a debt-to-income ratio below 40%, as stated by Moro. Exposure to California will be limited to 30%, while other states will be capped at 15%. Future additions may include debt-service coverage and residential-transition loans.

The product does not impose a lockup period, but withdrawals can be requested at any time and are expected to take around two U.S. business days. NUVA indicated that a 5% liquidity reserve would accommodate smaller redemptions, while larger withdrawals may necessitate selling loans through Figure Connect or over-the-counter transactions.

A separate first-loss equity segment, estimated at about 5% of the vault’s value, is designed to absorb defaults or losses from forced sales before they impact HOME holders, according to NUVA’s CEO. This structure offers a protective buffer but does not eliminate the credit and liquidity risks associated with U.S. residential lending, Moro cautioned.

He also mentioned that the goal is to provide loan-level data, such as collateral, delinquency, borrower credit, and loan-to-value metrics, on-chain, rather than limiting investors to periodic fund reports.

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