NUVA, the real-world asset marketplace created by Animoca Brands and Nuva Labs, has introduced HOME, an Ethereum-compatible token designed to give eligible non-U.S. investors exposure to a managed pool of U.S. home-equity lines of credit.
The product starts with an investment of 1 USDC and targets an annual return of 7%, with that target reset each month. The loans in the initial vault are expected to be originated through Figure Technology Solutions. According to CoinDesk, HOME is intended to make an asset class typically accessed through private-credit funds, securitizations or whole-loan purchases available through a tokenized structure.
HOME holders will not own individual mortgages or home-equity lines. Instead, they will hold ERC-20 tokens representing exposure to the vault as a whole. Interest income and loan performance will be reflected in the vault’s net asset value, which determines the token price.
How the HOME structure works
Home-equity lines of credit, or HELOCs, allow homeowners to borrow against the equity in their properties. They generally provide access to a credit line for a defined period and commonly carry variable interest rates. Federal Reserve Economic Data put the value of U.S. HELOCs at $460 billion in the second quarter.
NUVA’s product is designed as a managed pool rather than a collection of directly owned loans. This distinction means investors gain exposure to the performance of the underlying residential-credit portfolio, but do not select, hold or control particular borrower loans.
The token has no lockup. Investors can request withdrawals at any time, although NUVA expects redemption requests to take about two U.S. business days. A liquidity sleeve equal to 5% of the vault is intended to meet smaller withdrawals. Larger redemptions may require loans to be sold through Figure Connect or over the counter.
NUVA also plans a separate first-loss equity segment estimated at about 5% of the vault’s value. That segment is intended to absorb defaults or losses from forced sales before they affect HOME holders. It is a buffer rather than a guarantee: investors remain exposed to both credit risk from borrowers and liquidity risk when loans must be sold.
Eligibility and portfolio safeguards
HOME is restricted to eligible users outside the United States. The United Kingdom, Hong Kong, China, the British Virgin Islands and sanctioned jurisdictions are excluded, according to NUVA CEO Anthony Moro. The company will enforce those restrictions through wallet screening and IP-address blocking.
The initial portfolio is expected to focus on borrowers with an average FICO credit score of at least 735. It will also target a combined loan-to-value ratio of no more than 69% and a debt-to-income ratio of no more than 40%.
NUVA plans geographic limits as well. California exposure will be capped at 30% of the portfolio, while exposure to other states will be limited to 15% each. The company said debt-service coverage and residential-transition loans could be added to the strategy later.
NUVA also aims to make information about collateral, delinquencies, borrower credit and loan-to-value ratios available onchain. That would give token holders access to loan-level information rather than relying only on periodic reports, although the source material does not specify when all such data will be available.
A tokenized route into an established credit market
The launch comes as both tokenized credit products and the U.S. home-equity market develop. Figure’s consumer-loan marketplace processed $4.3 billion in volume during the second quarter, including $2.8 billion through Figure Connect, where whole-loan buyers and securitization investors purchase loans.
U.S. HELOC balances increased by $13 billion in the second quarter, marking a 17th consecutive quarterly rise, according to the New York Fed. NUVA’s approach is therefore aimed at repackaging an existing institutional credit market, rather than creating demand for residential loans from the beginning.
Other blockchain companies have already brought private credit and structured products onchain. Maple Finance has built lending pools for institutional borrowers, while Centrifuge has been used for tokenized credit and structured products. Figure also tokenizes HELOCs on its Provenance blockchain.
NUVA’s distinction is the format and access route: eligible offshore users can enter a managed vault with 1 USDC and receive a tradable, composable ERC-20 token instead of buying whole loans or committing capital to a conventional private-credit fund. The product tests whether decentralized-finance users want exposure to residential credit through a public-blockchain token.
Moneyiar market picture
Moneyiar data at 21:33-21:34 on October 8, 2026, showed USDC at $0.9998956316, up 0.01% over 24 hours and down 0.01% over seven days. Celestia (TIA) traded at $0.5092304379, up 14.05% in 24 hours and 19.08% over seven days. Compound (COMP) was $23.2999410959, up 1.08% over 24 hours and down 2.04% over seven days. RedStone (RED) stood at $0.1443551112, down 3.46% over 24 hours and 18.14% over seven days.
