Figure Technologies has filed to go public on Nasdaq, aiming for a valuation of up to $4.13 billion and to raise as much as $526 million in the offering. The company says shares would trade under the ticker FIGR, with Goldman Sachs, Jefferies and BofA Securities leading the underwriting group.
Founded by SoFi co‑founder Mike Cagney, Figure is a blockchain-backed lender that has become a leading player in tokenizing real-world credit. Using its Provenance blockchain rails, the firm says it has originated more than $16 billion in home equity lines of credit — a core metric supporting its IPO plans.
This year Figure consolidated operations with Figure Markets, the unit that runs a blockchain marketplace and issues YDLS, a yield-bearing stablecoin structured like a tokenized money-market fund. That integration expands the company’s footprint in decentralized finance and tokenized lending products.
Why this matters: the filing highlights renewed investor appetite for crypto-linked firms to access public markets and signals growing interest in real-world assets (RWA) as a use case for blockchain infrastructure. A public listing would give Figure broader access to capital to scale its lending and tokenization efforts.
Risks to consider: beyond standard IPO risks such as market volatility and valuation sensitivity, investors should weigh crypto-specific uncertainties including regulatory scrutiny of tokenized products and stablecoins. The deal’s timing and terms will depend on market conditions and evolving regulatory clarity for crypto financial services.
Source: The Crypto Report Site. Read the original coverage for full details.