Figure Technology, a blockchain-driven lending company, has officially filed for an initial public offering (IPO) on the Nasdaq stock exchange. This move follows a recent confidential submission of their application to regulators.
Headquartered in New York, Figure Technology Solutions plans to trade under the ticker symbol FIGR. The IPO is led by prominent financial institutions including Goldman Sachs, Bank of America, and Jefferies Financial Group. Existing shareholders are expected to offer shares during this public offering, as disclosed in an official filing with the U.S. Securities and Exchange Commission.
The company joins a growing list of crypto-focused firms pursuing public market listings amid a favorable regulatory environment. Notably, earlier filings and public debuts in this sector have included stablecoin issuer Circle Internet Group, signaling strong investor interest.
Strong Financial Performance Boosts IPO Launch
In the first half of 2025, Figure Technology demonstrated robust financial results with revenues reaching nearly $191 million, marking a 22% increase year-over-year. The firm recorded a $29 million profit during this period, a significant turnaround from a $13 million loss previously reported.
Company Background and Market Position
Founded in 2018 by Mike Cagney, a veteran fintech entrepreneur behind the Provenance blockchain and SoFi, Figure offers an innovative platform for lending, trading, and asset tokenization on the Provenance blockchain. In 2021, Figure secured a Series D funding round with $200 million, valuing the company at $3.2 billion.
The company has originated over $16 billion in blockchain-based loans and executed more than $50 billion in on-chain transactions. Figure aims to bring liquidity to traditionally illiquid assets by leveraging blockchain technology, streamlining financial intermediation by reducing intermediaries to just buyers and sellers.
US Crypto IPO Surge
The U.S. market has recently seen a surge in crypto companies filing for or completing IPOs. Bullish, owner of CoinDesk and a crypto exchange, recently debuted on the NYSE, experiencing a significant surge in stock prices. Meanwhile, Gemini exchange has also filed for an IPO, joining BitGo and Grayscale among others looking to go public. Additionally, Kraken is rumored to be planning a public listing in the coming year.
This wave of crypto IPOs reflects growing mainstream acceptance and investor appetite within the blockchain and cryptocurrency sectors.
