The blockchain-based lending company Figure Technology Solutions has officially submitted its initial public offering (IPO) application in the United States, becoming one of many cryptocurrency companies entering the market.
This New York-based company plans to list on Nasdaq under the ticker "FIGR," with Goldman Sachs, Bank of America, and Jefferies Financial Group serving as underwriters. In documents submitted to the U.S. Securities and Exchange Commission on Monday, Figure stated that some of its existing shareholders will sell shares in this offering.
Earlier this month, Figure announced that it had confidentially submitted its listing application, becoming one of a group of cryptocurrency companies planning to go public under the relatively cryptocurrency-friendly Trump administration, alongside stablecoin issuer Circle Internet Group, which is also preparing for a significant IPO.
The backdrop for this application is a strong performance in the first half of 2025. The company reported nearly $191 million in revenue for the first half of the year, a year-over-year increase of over 22%, achieving a profit of $29 million, compared to a loss of $13 million in the same period last year.
Mike Cagney co-founded Figure in 2018; he was instrumental in creating the blockchain Provenance, which focuses on Layer 1 asset tokenization, as well as SoFi, the largest online lending company in the U.S.
Figure leverages the Provenance blockchain to provide services such as lending, trading, and asset tokenization. The company raised $200 million in its Series D funding round in 2021, achieving a valuation of $3.2 billion.
Figure noted in its filing that it has issued over $16 billion in blockchain loans, with total on-chain transactions exceeding $50 billion.
"Blockchain can not only reshape existing markets. By putting historically illiquid assets—such as loans—and their performance records on-chain, blockchain can inject liquidity into markets that previously had none," Cagney stated in the filing.
He added that financial services heavily rely on intermediaries, "and around this rent-seeking behavior, extremely high market-cap giants have emerged."
"Blockchain can simplify multi-party markets into just buyers and sellers. All rent-seeking behavior will cease to exist," Cagney further stated.
Recently, several cryptocurrency companies have gone public or submitted listing applications in the U.S. Cryptocurrency exchange and CoinDesk owner Bullish went public on the New York Stock Exchange on Wednesday, August 13, with its stock price soaring over 200% on the first day.
Cryptocurrency exchange Gemini has also recently applied for an IPO, joining the ranks of cryptocurrency asset custodian BitGo and cryptocurrency ETF issuer Grayscale, while cryptocurrency exchange Kraken has long been rumored to plan an IPO next year.
Related: Is the bottom for Bitcoin (BTC) price at $114,700? Data suggests the reversal timing is here.
Original article: “Cryptocurrency lending platform Figure Technology applies for U.S. listing”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
