Tether vs Figure Heloc
USDT and FIGR_HELOC compared: live market data, one-year performance, and the key differences.
| Metric |  Tether |  Figure Heloc |
|---|---|---|
| Price | $0.999822 | $1.03 |
| Market Cap | $183.75B | $23.86B |
| 24h Volume | $69.06B | $134.94M |
| Rank | #3 | #10 |
| Circulating Supply | 183.78B | 23.09B |
| Max Supply | Uncapped | Uncapped |
| All-Time High | $1.32 (Jul 23) | $1.06 (Aug 3) |
| Launched | N/A | N/A |
1-Year Relative Performance
Key Differences
Key differences
Tether (USDT) and Figure Heloc (FIGR_HELOC) both represent claims on off-chain value, but of very different kinds. USDT is a fiat-backed stablecoin designed to mirror the value of the U.S. dollar, functioning as a digital dollar substitute across exchanges and blockchains. FIGR_HELOC is a tokenized real-world asset (RWA) representing home equity lines of credit — consumer debt instruments standardized and brought on-chain through Figure's platform on the Provenance blockchain.
Neither asset has its own mining or staking consensus; both are tokens issued on host blockchains. USDT is issued across many networks, including Ethereum, Tron, Solana, and TON, and its supply expands and contracts with issuance and redemption — currently around 183 billion tokens circulating. FIGR_HELOC lives on the Provenance blockchain, with roughly 21 billion tokens outstanding, and its supply reflects the pool of tokenized loan assets rather than dollar deposits.
Their ecosystem roles are distinct. USDT is the most widely used stablecoin in crypto markets, serving as a trading pair, settlement medium, and dollar proxy on centralized and decentralized venues alike. FIGR_HELOC belongs to the tokenized private credit category, where Figure Connect operates as a primary market for originating and tokenizing debt, and Figure Markets enables secondary trading with 24/7 settlement.
In short, USDT digitizes cash for trading and payments, while FIGR_HELOC digitizes credit assets for institutional debt markets — stable value versus yield-bearing loan exposure.