Blockchain lending company Figure Technology has filed to go public on Nasdaq, days after announcing it had confidentially lodged its application with regulators.
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Blockchain-based lending company Figure Technology Solutions filed for an initial public offering in the US, joining a slate of crypto companies that have entered the market.
The New York-based company plans to list on Nasdaq under the symbol “FIGR” with Goldman Sachs, Bank of America and Jefferies Financial Group leading the IPO. Some of its existing shareholders will sell shares in the offering, Figure said in a on Monday with the Securities and Exchange Commission.
Figure said that it had confidentially filed to go public, joining a flurry of crypto companies eyeing a public debut under the crypto-friendly Trump administration and following a blockbuster from stablecoin issuer Circle Internet Group.
It came after robust earnings for the first half of 2025. The company’s revenue was almost $191 million, up over 22% from last year. It recorded a profit of $29 million, up from a $13 million loss.
Figure valued at $3.2 billion
Figure was co-founded in 2018 by Mike Cagney, who helped create the layer 1 asset tokenization-focused blockchain Provenance and the fintech firm SoFi, the country’s largest online lender.
Figure offers a blockchain platform for lending, trading and asset tokenization on Provenance. It was in a 2021 Series D funding round that raised $200 million.
Figure said in its filing that it has originated over $16 billion in blockchain-based loans and completed over $50 billion worth of onchain transactions.
“Blockchain can do more than disrupt existing markets. By taking historically illiquid assets — such as loans — and putting these assets and their performance history onchain, blockchain can bring liquidity to markets that have never had such,” Cagney said in the filing.
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He added that financial services require significant intermediation and “massive companies with enormous market capitalizations have been built around this rent-seeking.”
“Blockchain has the power to distill these multiparty marketplaces down to just two: buyer and seller. All the rent-seeking goes away,” Cagney added.
US sees rush of crypto IPOs
Multiple crypto companies have debuted or filed to go public in the US in recent weeks, with crypto exchange and CoinDesk owner Bullish listing on the NYSE on Wednesday, Aug. 13, which saw .
Crypto exchange Gemini has also recently , joining crypto custodian BitGo and crypto exchange-traded fund issuer , while crypto exchange Kraken has to be going public next year.
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