Bed Bath & Beyond is moving into mortgage and home equity finance through a deal that leans heavily on Figure Technologies' lending and tokenization infrastructure.  

The company announced Monday that it has acquired Tokens.com, a blockchain-based platform that will serve as the foundation for a new investment and personal finance business.  

The move establishes a foundation for an investment and personal finance platform, which will deliver a one-stop spot for real estate and other real-world asset finance that connects tokenized and traditional investing. The platform will be integrated with Bed Bath & Beyond's financial technology, insurance and blockchain-based businesses, the company said in a press release. 

Bed Bath & Beyond anticipates the Tokens.com platform to be operational by July 1.

Tokens.com will be wholly owned by Bed Bath & Beyond, which has investments and ownership interests in other digital asset and blockchain businesses, such as tZERO and GrainChain. The platform will be supported by shared expertise, regulatory experience and infrastructure services across the company's portfolio, it said.

The platform will rely on partners like Figure Technologies and Figure Markets to access mortgages, home equity lines of credit, renovation loans, home makeover loans and other asset-backed lending solutions.

"Our strategy brings together partners like Figure Technologies and Figure Markets, the infrastructure of tZERO, and the operating and AI integration capabilities provided by ShyftLabs," said Marcus Lemonis, CEO of Bed Bath & Beyond. "Providing responsible, compliant liquidity pathways for homeowners and real-world asset holders is our strategy and long-term vision."

Tokens.com is being built as financial infrastructure that brings together fragmented asset classes and unlocks liquidity. The platform is intended to provide a clear view of a customers' assets and interests, including ownership structure, estimated value ranges, existing obligations and available liquidity options, the release said.

It will support the tokenization of public and private securities and real-world assets, as well as asset-backed financing solutions, like home purchases, refinancing and home equity solutions. Tokens.com will help customers access cryptocurrency as a funding vector and investable asset as well, according to the release.

The platform will also allow flexibility in how funds can be delivered and investing can be addressed in a multi-asset ecosystem utilizing cash and crypto, such as Figure's yield-bearing stablecoin, the release said.

Figure has been involved in asset-backed securitization of home equity lines of credit since 2023, when it announced one of the few publicly rated HELOC securitizations since the Great Recession. More recently, Figure brought to market a Bitcoin-backed HELOC product, a stepping stone for the industry's growing acceptance of crypto. 

"With Figure's market-leading tokenization technology and platform, Tokens.com can help unlock the trillions of U.S. home equity and crypto assets, bringing consumers liquidity and spending power," Figure CEO Michael Tannenbaum said in the release.