Blockchain-based lending platform Figure Technology Solutions has filed for an initial public offering in the United States, positioning itself among a growing wave of crypto-focused firms making their way to Wall Street.
The New York-based company plans to list shares on Nasdaq under the ticker “FIGR”, according to a filing with the U.S. Securities and Exchange Commission (SEC) on Monday. Goldman Sachs, Bank of America, and Jefferies Financial Group will lead the offering, which will also see some existing shareholders sell part of their stakes.
Figure’s decision follows strong earnings in the first half of 2025, where it posted $191 million in revenue, up 22% from the previous year, and swung to a $29 million profit from a $13 million loss. The filing comes just weeks after the firm revealed it had confidentially submitted IPO documents, mirroring a broader rush of digital asset firms eyeing the public markets under the crypto-friendly Trump administration.
Founded in 2018 by Mike Cagney, who previously co-founded SoFi and blockchain network Provenance, Figure has built a platform that integrates lending, trading, and asset tokenization. The company, last valued at $3.2 billion in a 2021 Series D round backed by $200 million in fresh funding, says it has originated over $16 billion in blockchain-based loans and processed more than $50 billion in onchain transactions.
In its filing, Cagney emphasized blockchain’s ability to transform financial markets by bringing liquidity to historically illiquid assets like loans. He argued that the technology eliminates costly intermediation
“Blockchain has the power to distill multiparty marketplaces down to just two — buyer and seller. All the rent-seeking goes away.”
The IPO aligns Figure with several high-profile crypto players tapping public markets. Circle Internet Group Inc., once again increased the size and pricing of its upcoming public offering, now aiming to raise approximately $1.05 billion as it prepares to list on the New York Stock Exchange (NYSE) today. Meanwhile, Gemini recently filed for an IPO, joining crypto custodian BitGo and crypto exchange-traded fund issuer Grayscale.
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