Blockchain Lender Figure Technology Files for $400M IPO

Key Highlights

• Figure reported $43.8 million revenue and a $29.1 million profit in H1 2025
• The company has processed over $16 billion in loans using blockchain, proving DeFi can work at scale in real-world finance
• If successful, Figure’s $400 million Nasdaq IPO could open the door for more crypto firms to enter public markets

Figure Technology Solutions, a major player in blockchain-based lending, has officially filed for an initial public offering (IPO), aiming to list on the Nasdaq under the ticker symbol FIGR. 

This is not just another tech company going public. It is a crypto-native firm entering into the big leagues, proving that blockchain is not just about Bitcoin memes and wild speculation. It is about real money, real loans, and now, real stock market investors.  

Figure Seeks Public Market Debut

In the first half of 2025, Figure raked in $43.8 million in revenue, up more than 22% from the previous year. The company flipped a $13 million loss in early 2024 into a $29.1 million profit just a year later, according to the latest report.

That is the kind of turnaround that makes investors sit up and take notice. Since launching, Figure has handled over $16 billion in loans, all powered by blockchain tech. For an industry that critics once dismissed as a playground for hackers and day traders, this is a serious flex.  

One can think of Figure as a next-gen lender, which is one that cuts out the middlemen. Traditional banks take forever to approve loans, charge hefty fees, and keep borrowers in the dark. 

Figure uses blockchain to make lending faster, cheaper, and totally transparent. Whether it’s home equity lines of credit (HELOCs) or other loan products, the company has found a way to make decentralized finance (DeFi) actually work in the real world. And with interest rates still high, more people are turning to flexible options like Figure’s instead of dealing with slow-moving banks.  

The timing of this IPO is no accident. After quietly filing confidential paperwork with the SEC earlier this year, Figure is now making its move public, right as crypto is enjoying a fresh wave of investor hype amid bullish momentum in the major cryptocurrencies like Bitcoin and altcoins. 

Social media chatter, especially on X (formerly Twitter), has been buzzing with speculation that this could be the start of a new trend as the blockchain firms ditch the shadows and step into the stock market spotlight. 

Estimates suggest the IPO could raise around $400 million, though the final numbers are still up in the air.  

But Figure isn’t alone in this push. Over the past year, more crypto-related companies have been eyeing public listings, trying to shake off the industry’s risky reputation and prove they’re here to stay.

Bloomberg recently called it a “rush of crypto firms entering the market,” and if Figure’s IPO goes well, it could open the floodgates for others. The big question is whether Wall Street is ready to fully embrace blockchain.

The company is actually making money. Unlike so many crypto startups that burn through cash with little to show for it, Figure has turned a profit, kept costs under control, and shown that blockchain lending isn’t just theoretical. 

It is a viable business. That is a huge deal in an industry where even big names have collapsed under mismanagement and wild speculation.  

Still, challenges remain. The SEC has been cracking down on shady crypto projects, and while Figure’s focus on lending might help it avoid some regulatory landmines, nothing is guaranteed. 

But if all goes well, this could be a watershed moment. A successful IPO won’t just be a win for Figure, as it will be a win for the entire blockchain industry, proving that decentralized finance can stand shoulder-to-shoulder with traditional banking. 

Nasdaq, known for listing tech giants, seems like the perfect stage for this debut. And if Figure’s stock takes off, it could inspire a whole new wave of crypto companies to go public, blurring the lines between old-school finance and the blockchain revolution.