Figure Technology Solutions reported a sharp expansion in its blockchain-native lending operations for the second quarter, with net income nearly tripling to $87 million from $30 million a year earlier. Net revenue more than doubled year-over-year to $226 million.
Total volume across the Consumer Loan Marketplace reached $4.3 billion, a 132% increase, including $2.8 billion through Figure Connect, the blockchain-based marketplace connecting third-party loan originators with institutional investors. Figure Connect accounted for roughly 65% of total volume. The company added more than 100 new loan-origination partners during the quarter.
CEO Michael Tannenbaum highlighted continued momentum, noting that weekly loan applications surpassed $1 billion as of July. He also cited the pending acquisition of real estate lending platform Kiavi in a $717 million transaction, expected to close in the second half of 2026, and May’s expansion into small and medium-sized business lending through a partnership with Credibly.
The company’s yield-bearing stablecoin YLDS saw issuance rise to $556 million during the quarter, reflecting broader demand for yield-generating digital assets. Figure’s results point to increasing viability of blockchain-based lending as a mainstream financial service, with the company positioning itself for further expansion across consumer and real estate lending.
