What happened?
Blockchain-based lender Figure Technology Solutions, co-founded by former SoFi CEO Mike Cagney, filed for an IPO on the Nasdaq. The company reported a significant 22% year-over-year revenue growth to $191 million in the first half of 2025. Figure will list under the ticker ‘FIGR,’ with Goldman Sachs, Jefferies Financial Group, and Bank of America as lead underwriters.
Who does this affect?
This IPO impacts existing and potential investors looking at blockchain technology and fintech companies. It also affects competing crypto-focused firms considering public listings in a bullish IPO market. Additionally, it draws interest from financial markets and institutions involved in underwriting and facilitating such public offerings.
Why does this matter?
Figure’s IPO aligns with a growing trend of crypto and blockchain firms entering public markets, potentially signaling increased mainstream acceptance and investment interest. Successful IPOs in this sector, like Circle and Bullish, have set a positive precedent, contributing to a bullish market sentiment. This move could enhance liquidity in traditionally illiquid asset markets through blockchain technology, indicating potential disruption across financial sectors.