Blockchain lending firm Figure Technology Solutions has publicly filed for a U.S. IPO, planning to list on Nasdaq under the ticker "FIGR" with Goldman Sachs, Bank of America, and Jefferies leading the offering. The New York-based company reported $191 million revenue in H1 2025, marking a 22% year-over-year increase, and flipped a $13 million loss into a $29 million profit during the same period.
Founded in 2018 by SoFi co-creator Mike Cagney, Figure leverages its Provenance blockchain for loan origination, trading, and asset tokenization. The firm has processed over $16 billion in loans and $50 billion in on-chain transactions. Valued at $3.2 billion since its 2021 Series D round, Figure aims to streamline financial intermediation through blockchain, with Cagney stating it eliminates "rent-seeking" by connecting buyers and sellers directly.
The filing arrives amid a crypto IPO surge, following Bullish's 200% stock debut and Circle's public listing. Figure also plans a security-regulated stablecoin, reinforcing its push to tokenize private markets.