Figure Technology Charges Toward Wall Street: Blockchain Lender Files IPO After Stellar 22% Revenue Surge

Wall Street's about to get a crypto-powered wake-up call.

Figure Technologies—the blockchain-based lending disruptor—just filed its S-1, proving decentralized finance can play by traditional rules (while quietly rewriting them).

The numbers don't lie: That 22% revenue jump signals institutional money is finally taking blockchain finance seriously—or at least chasing the yield.

Why this matters: While legacy banks fiddle with 'innovation labs,' Figure's IPO marks the first real bridge between DeFi pipelines and Main Street investors. The fact it's happening during a crypto winter? That's either brilliant timing or sheer hubris.

The cynical take: Nothing makes TradFi embrace disruption like a juicy underwriting fee. Goldman's probably already minting an NFT to celebrate.

One thing's certain: When the NYSE bell rings, it'll echo across both Silicon Valley and Crypto Twitter—whether they're ready or not.

Figure Reports 22% YoY Growth

The New York-based company stated in a filing with the US SEC that its revenue soared 22% year-over-year to $191 million in the first half of 2025. Figure Tech also reported a net income of $29.1 million.

The company incurred a net loss of $15.6 million on revenue of $12.5 million in the same period a year earlier.

The initial public offering will list the company’s Class A common stock on the Nasdaq under the ticker ‘FIGR.’ Goldman Sachs Group Inc., Jefferies Financial Group Inc. and Bank of America Corp. are the lead underwriters.

FIGR Lines Up for a Big Debut, IPO Momentum Builds

Figure, which develops blockchain technology to facilitate loans, initially announced its IPO plans early this month. The company confidentially submitted a draft registration statement with the SEC for a proposed IPO of its equity securities.

@FigureMarkets submits confidential IPO filing as crypto companies rush to public markets following Circle's 160% debut surge and $4.2 billion Bullish exchange listing.#IPO #Cryptohttps://t.co/by14TZMfnn

The IPO filing comes amid Figure’s ongoing efforts to introduce an interest-bearing stablecoin, regulated as a security within the US.

Further, the 2024-2025 bull market has been particularly attractive due to a wave of industry IPOs. crypto exchange operator Bullish made an impressive debut, pricing its IPO at $37 per share, valuing the exchange at $5.4 billion and raising $1.1 billion.

Earlier, stablecoin issuer Circle and Bitcoin-friendly design platform Figma went public, with Circle planning to launch a national trust charter.

“The IPO is one step in a long process to bring blockchain to all aspects of capital markets,” Cagney said in the Monday filing, adding that blockchains can do more than disrupt existing markets.

“By taking historically illiquid assets – such as loans – and putting these assets and their performance history on-chain, blockchain can bring liquidity to markets that have never had such,” he added.

Figure Technologies raised $200 million in a funding round in 2021, at a $3.2 billion valuation.