Blockchain Lender Figure Technology Files for US IPO After 22% Revenue Growth

Figure Technology Solutions, a blockchain-based lending platform co-founded by former SoFi CEO Mike Cagney, has filed for an initial public offering on Nasdaq. The firm reported a 22% year-over-year revenue increase to $191 million in the first half of 2025, swinging from a net loss to a $29.1 million profit.

The IPO, underwritten by Goldman Sachs, Jefferies, and Bank of America, follows a wave of crypto companies going public. Figure's confidential filing earlier this month aligns with market momentum after Circle's 160% debut surge and Bullish exchange's $4.2 billion listing.

Specializing in blockchain-powered loan origination, Figure's public listing signals growing institutional adoption of distributed ledger technology in traditional finance. The offering will trade under the ticker 'FIGR' as Wall Street demonstrates renewed appetite for crypto-adjacent equities.