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Blockchain fintech company Figure Technology Solutions has officially filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC), aiming to list on the Nasdaq under the ticker FIGR.
Business Model and Growth
Founded in 2018, Figure leverages the Provenance Blockchain to deliver consumer lending services, with a core focus on home equity lines of credit. The firm facilitated approximately $5 billion in transactions in 2024, a 51% increase year-over-year.
The company operates on a dual-track model, offering lending under its own brand while also providing a white-label platform for banks and credit unions. Over the past 12 months, Figure generated $375 million in revenue, with first-half 2025 revenue climbing 22% year-over-year to $191 million. Net income reached $29 million, marking a sharp turnaround from a $13 million loss in the same period last year.
Market Expansion and Regulatory Push
Beyond lending, Figure is expanding into securitization and tokenization of real-world assets (RWAs). In 2024, the company recorded more than ¥3 trillion ($20 billion+) in on-chain transactions and advanced the development of its YLDS stablecoin.
The IPO will be led by Goldman Sachs, Jefferies, and Bank of America, highlighting strong ties with traditional Wall Street institutions. As global regulation around digital assets continues to mature and crypto markets rebound, Figure’s positioning at the intersection of blockchain and traditional finance underscores its bid to capture growing investor interest.
