Blockchain Lender Figure Aims for Nasdaq IPO After Facilitating $16 Billion in Loans, Capitalizing on Crypto Market Momentum.
Figure Technology Solutions Inc., a company specializing in blockchain-powered lending solutions, has officially submitted paperwork for an initial public offering (IPO) to the U.S. Securities and Exchange Commission (SEC). According to a report by Bloomberg, the company intends to list its stock on the Nasdaq exchange under the ticker symbol FIGR. This move reflects a growing trend of cryptocurrency-focused businesses venturing into the public markets. Figure’s IPO filing positions it alongside other crypto-related firms exploring public trading, particularly following the successful debut of stablecoin provider Circle.
Figure Targets Public Offering After Achieving $29 Million Profit in First Half of 2025
Figure demonstrated strong financial results during the first six months of 2025. The company reported revenue of $43.8 million, representing a 22.4% increase compared to the same period last year. Furthermore, Figure achieved a net income of $29.1 million, a significant improvement from the $13 million loss recorded during the first half of 2024. These financial indicators highlight the company’s growth trajectory and profitability as it pursues a public listing.
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Since its inception in 2018, Figure has made a substantial impact on the lending landscape. The company has originated over $16 billion in loans utilizing its proprietary blockchain technology. These include traditional home loans and innovative crypto-backed loans, where borrowers can leverage their digital assets as collateral. Figure’s blockchain-based platform accelerates and streamlines the lending process by removing conventional intermediaries. This approach has generated significant interest in the crypto-friendly lending space, especially as regulatory frameworks mature.
The IPO follows a confidential draft submission to the SEC earlier in August 2025. Since 2023, Figure has collaborated with leading financial institutions such as Goldman Sachs, JPMorgan Chase, and Jefferies Financial Group on its IPO strategy. These firms are expected to act as lead underwriters for the offering. The precise number of shares to be offered and the IPO price range are yet to be disclosed. Previous reports suggest the company aims to raise between $500 million and $1 billion.
Investor Interest Expected in Figure’s IPO Due to Crypto Loan Growth
Figure’s co-founder, Mike Cagney, also co-founded SoFi Technologies Inc. His extensive fintech experience has been instrumental in shaping Figure’s mission to revolutionize lending through blockchain technology. The technology employed by the company optimizes loan processes and extends financial services to underserved segments of the market. For instance, Figure provides crypto-collateralized loans to individuals who may not qualify for traditional bank financing. This strategy has helped the company expand its customer base and overall loan volume.
Currently, the cryptocurrency market is witnessing a surge in IPO activity. Shares of stablecoin issuer Circle experienced a 168% increase after its initial listing in June 2025, demonstrating strong investor appetite. Similarly, Gemini, the cryptocurrency exchange owned by the Winklevoss twins, recently filed for a New York IPO. These trends suggest increasing acceptance of crypto-related businesses within the public markets. This supportive environment could positively influence Figure’s IPO, particularly given the current U.S. administration’s relatively crypto-friendly stance.
In conclusion, Figure Technology Solutions’ upcoming Nasdaq IPO is poised to generate significant attention. The company is a pioneer in crypto-finance, characterized by robust revenue growth, a substantial lending portfolio exceeding $16 billion, and a cutting-edge blockchain-based lending model. As Figure transitions to the public market, investors will closely monitor its performance. The IPO is also expected to further integrate the crypto industry into mainstream finance.