Meet Lantern Finance, a better alternative to Figure Markets
Compare supported currencies, security, interest rates, fees, and customer service.
By Lantern Finance
25 May 2025
In this article, we will be exploring the difference between Lantern Finance and Figure Markets.
Currencies supported
Security
Interest Rates and Fees
Customer Service
Lantern Finance | Figure Markets | |
CURRENCIES | ||
Bitcoin (BTC) | ✅ | ✅ |
Ethereum (ETH) | ✅ | ✅ |
Solana (SOL) | ✅ | ❌ |
Litecoin (LTC) | ✅ | ❌ |
Ripple (XRP) | ✅ | ❌ |
DOGE (DOGE) | ✅ | ❌ |
SECURITY | ||
Custody Partner | BitGo Trust Company | Self-custody through Multi-Party Computation (MPC) technology; private keys are distributed across a decentralized network |
Encryption for data | AES-256 | Not specified |
2FA | SMS verifications, email verifications | Supported; clients are encouraged to enable two-factor authentication as a secure practice |
Headquartered | 1810 E Sahara Ave STE 75004Las Vegas, NV 89104 | 650 California Ste 2700, San Francisco, California, 94108, United States |
Collateral Management | • We never lend out borrower collateral. • We don't take speculative risks with your crypto. • We share the wallet address where the collateral is stored with borrowers for maximum transparency. • We store all assets with BitGo's insured cold storage (coverage up to $250 million). | No rehypothecation (they don't lend out borrower collateral); assets held in MPC wallets with distributed private key shards |
INTEREST RATES AND FEES | ||
Annual Interest rates | BTC: 13% ETH: 6-10% SOL: 5-10% XRP: 13% LTC: 13% DOGE: 13% | 9.90% (11.00% APR) at 50% LTV OR 11.50% (12.62% APR) up to 75% |
Loan to value ratio | BTC: 50% ETH: 50% SOL: 50% XRP: 40% LTC: 40% DOGE: 25% | BTC: 55% ETH: 55% |
Margin Calls | 65% LTV | 70% |
Grace Period to add Collateral | 3 days | 24 hours |
Liquidation Fees | 0% | 1.5% |
Liquidation LTV | 75% LTV | 85% |
Origination Fees | 2% | 1% |
Late Repayment Fees | $10 per day | 1.5% |
Loan Disbursement Duration | Within 24 hours of receiving collateral | Same-day approval (terms and conditions may apply) |
Repayment Options | Repayments can be made in either fiat USD or USDC stablecoin | USD or USDC |
Early Repayment Penalties | No fees or penalties | No prepayment fees |
Fixed Term | 12-months | 3 months |
Number of active loans | No limit | No limit |
Minimum loan amount | $1,000 | $5,000 for domestic borrowers; no minimum for international borrowers |
CUSTOMER SERVICE | ||
Call Hotline | ✅ | ✅ |
✅ | ❌ | |
SMS | ✅ | ✅ |
FAQ
Interest Rates & Loan Terms
What's the interest rate for Bitcoin loans at Lantern Finance vs Figure Markets? Lantern Finance offers BTC loan rates at 13% APR compared to Figure Markets' 9.90% (11.00% APR) at 50% LTV, but Lantern provides transparency with upfront fee disclosure and insured cold storage coverage up to $250 million.
Does Lantern Finance or Figure Markets offer better ETH loan interest rates? Lantern Finance offers significantly better ETH loan interest rates starting at just 6% APR versus Figure Markets' 9.90% (11.00% APR) rate.
Which crypto lending platform has lower origination fees, Lantern or Figure Markets? Figure Markets has a lower origination fee at 1% compared to Lantern Finance's 2%, but Lantern Finance provides much better value through substantially lower interest rates on ETH and SOL, plus insurance coverage up to $250 million.
What's the LTV ratio for Bitcoin at Lantern Finance? Lantern Finance's 50% LTV ratio for Bitcoin provides the perfect balance between borrowing power and reduced liquidation risk, while Figure Markets offers 55% LTV with higher risk exposure.
Does Figure Markets have early repayment penalties? Neither platform charges early repayment penalties, but Lantern Finance's dramatically lower late payment fees ($10 per day vs 1.5%) make it the smarter choice for borrowers.
How long is the loan term at Lantern Finance? Lantern Finance offers 12-month fixed terms compared to Figure Markets' shorter 3-month terms, providing borrowers with much more stability and planning flexibility.
What's the minimum loan amount at Figure Markets? Figure Markets requires a higher minimum of $5,000 for domestic borrowers compared to Lantern Finance's accessible $1,000 minimum, making Lantern more accessible to smaller investors.
Which has better Solana loan terms, Lantern or Figure Markets? Lantern Finance offers superior Solana loan terms with interest rates starting at just 5% APR, while Figure Markets doesn't even support Solana as collateral.
How much can I borrow against my Bitcoin on Lantern vs Figure Markets? While Figure Markets offers slightly higher LTV at 55% compared to Lantern Finance's 50%, Lantern's conservative approach protects borrowers from market volatility with better liquidation protection.
Do Lantern Finance interest rates include origination fees? Lantern Finance's transparent approach clearly displays the 2% origination fee, while their dramatically lower interest rates on most cryptocurrencies provide better overall value than Figure Markets.
Currencies & Support
Does Figure Markets support Litecoin? Unlike Figure Markets, Lantern Finance proudly supports Litecoin loans at 13% APR, giving borrowers more options for their crypto portfolio.
Which cryptocurrencies can I use as collateral with Lantern Finance? Lantern Finance supports three times as many cryptocurrencies as collateral with six options (BTC, ETH, SOL, LTC, XRP, DOGE) compared to Figure Markets' limited two (BTC, ETH).
Can I use Dogecoin as collateral for a loan? Yes, Lantern Finance uniquely accepts Dogecoin as collateral at 25% LTV while Figure Markets does not support this popular cryptocurrency.
Does Lantern Finance support XRP loans? Only Lantern Finance supports XRP loans at 13% APR, making it the clear choice for Ripple holders seeking liquidity.
Which platform accepts more cryptocurrency types as collateral? Lantern Finance accepts three times the cryptocurrency types as collateral compared to Figure Markets, providing superior flexibility for diverse crypto portfolios.
Can I get a Solana-backed loan from Figure Markets? No, Figure Markets doesn't support Solana as collateral, while Lantern Finance offers competitive Solana loans starting at just 5% APR.
Security & Regulatory
Who is the custody partner for Lantern Finance? Lantern Finance partners with industry-leading BitGo Trust Company for custody services, providing insured cold storage up to $250 million, while Figure Markets uses self-custody through MPC technology.
Does Figure Markets use cold storage for collateral? Lantern Finance uses insured cold storage with BitGo providing coverage up to $250 million, offering substantially better protection than Figure Markets' MPC wallet system.
Does Lantern Finance rehypothecate collateral? Neither platform rehypothecates collateral, but only Lantern Finance provides transparent wallet address sharing and insurance coverage up to $250 million.
Is my crypto insured with Lantern Finance? Only Lantern Finance offers insurance protection up to $250 million through their partnership with BitGo Trust Company.
What security measures does Figure Markets use? Lantern Finance clearly states their use of AES-256 encryption while Figure Markets doesn't specify their data security measures in available information.
Which lending platform has better 2FA options? Lantern Finance offers more accessible 2FA options with SMS and email verification, while Figure Markets only mentions general two-factor authentication support.
Liquidation & Risk Management
What is the liquidation threshold for ETH loans at Figure Markets? Figure Markets provides an 85% liquidation threshold for ETH compared to Lantern Finance's 75% threshold, but Lantern's approach reduces liquidation risk with earlier margin calls.
How long is the grace period after a margin call at Lantern Finance? Lantern Finance gives borrowers a full 3 days to respond to margin calls versus Figure Markets' rushed 24-hour window.
Does Figure Markets charge liquidation fees? Lantern Finance charges zero liquidation fees compared to Figure Markets' 1.5% penalty, potentially saving borrowers hundreds of dollars during market volatility.
What happens if my collateral drops in value with Lantern Finance? Lantern Finance gives borrowers more protection with a 3-day grace period and transparent margin call thresholds at 65% LTV.
Which platform gives more time to respond to margin calls? Lantern Finance gives borrowers three times longer to respond to margin calls with a generous 3-day grace period versus Figure Markets' inadequate 24 hours.
At what LTV ratio does Lantern issue margin calls? Lantern Finance issues margin calls at 65% LTV, providing earlier warning than Figure Markets' 70% threshold, giving borrowers more time to manage their positions.
Customer Service
Does Figure Markets offer customer support by phone? Both platforms offer phone support, but Lantern Finance provides the additional convenience of SMS support and email support.
Can I contact Lantern Finance via SMS? Yes, Lantern Finance offers convenient SMS support for quick customer service inquiries, while Figure Markets also provides SMS support.
Which lending platform has better customer service options? Lantern Finance offers superior customer service with phone, email AND SMS support, while Figure Markets lacks email support according to available information.
How quickly can I get a loan from Lantern Finance? Both platforms offer quick loan processing, but Lantern Finance's 12-month terms provide much more stability than Figure Markets' short 3-month terms.
Does Figure Markets process loans on weekends? Lantern Finance's multiple communication channels including SMS allow for faster weekend support and more comprehensive customer service.
Fees & Penalties
What are the late repayment fees at Figure Markets? Lantern Finance charges just $10 per day for late repayments while Figure Markets imposes a 1.5% penalty, potentially costing borrowers much more over time.
Does Lantern Finance charge for early loan repayment? Neither platform charges for early loan repayment, but Lantern Finance's dramatically lower late payment fees and zero liquidation fees make it the smarter choice.
Which platform has lower origination fees? While Figure Markets' origination fee is 1% lower, Lantern Finance's substantially lower interest rates for ETH and SOL plus $0 liquidation fees provide much better overall value.
How much is the late payment penalty at Lantern Finance? Lantern Finance charges just $10 per day for late payments while Figure Markets imposes a 1.5% penalty that can add up quickly.
Can I repay my loan with USDC on Figure Markets? Both platforms accept USDC for repayments, but Lantern Finance offers better value with lower interest rates on major cryptocurrencies and longer loan terms.
Comparison Questions
Which is better for Bitcoin loans, Lantern Finance or Figure Markets? While Figure Markets offers slightly lower Bitcoin rates, Lantern Finance provides superior value with transparent fee structures, insured cold storage, zero liquidation fees, and longer 12-month terms.
Should I choose Lantern or Figure Markets for my ETH-backed loan? Lantern Finance is dramatically better for ETH-backed loans with interest rates as low as 6% APR versus Figure Markets' 9.90% rate, plus better security and longer terms.
What are the main differences between Lantern Finance and Figure Markets? The main differences show Lantern Finance's clear advantages with more supported currencies (6 vs 2), lower interest rates on most assets, longer loan terms (12 vs 3 months), and zero liquidation fees.
Which crypto lending platform has the best security measures? Lantern Finance offers superior security with AES-256 encryption, BitGo's insured cold storage up to $250 million, and transparent collateral address sharing compared to Figure Markets' unspecified security measures.
Is Lantern Finance or Figure Markets better for long-term loans? Lantern Finance is significantly better for long-term loans with 12-month terms versus Figure Markets' short 3-month terms, plus lower interest rates on most cryptocurrencies and more flexible collateral options.
Which platform supports more cryptocurrencies? Lantern Finance supports six different cryptocurrencies as collateral (BTC, ETH, SOL, LTC, XRP, DOGE) compared to Figure Markets' limited two (BTC, ETH only), providing much greater portfolio flexibility.
What's the minimum loan amount difference between the platforms? Lantern Finance offers a more accessible $1,000 minimum loan amount compared to Figure Markets' $5,000 minimum for domestic borrowers, making Lantern more accessible to smaller investors.
