Blockchain Lender Figure Files for IPO Amid Crypto Market Rally

Figure Technology Solutions, a blockchain-based lender, has filed for a U.S. initial public offering, capitalizing on the resurgence of investor interest in digital assets. The New York-based firm reported a 22.4% revenue increase to $191 million in the first half of 2025, swinging to a $29 million profit from a $13 million loss in the prior-year period.

The filing adds to a wave of crypto companies seeking public listings, following successful debuts by trading platforms Bullish and eToro. Gemini exchange and stablecoin issuer Circle have also recently submitted IPO paperwork, signaling heightened institutional confidence in the sector.

"Crypto is becoming one of the big pillars of the IPO market," said Josef Schuster, CEO of IPOX. The trend extends beyond traditional IPOs to include blank-check mergers, reflecting broader acceptance of digital assets in mainstream finance.