Figure Technology Solutions Files Confidential IPO Submission Amid Crypto Market Boom

Figure Technology Solutions, a blockchain-based lending firm founded by ex-SoFi CEO Mike Cagney, has confidentially filed for an initial public offering with the U.S. SEC. The move aligns with a surge of digital asset firms seeking public listings, capitalizing on bullish crypto markets and regulatory tailwinds under the Trump administration's pro-crypto stance.

The company has emerged as a key player in the real-world asset (RWA) sector, originating $16 billion in home equity lines via its Provenance Blockchain infrastructure. Its recent merger with Figure Markets expands its footprint into yield-bearing stablecoins and tokenized money markets.

This development follows Circle's spectacular Nasdaq debut earlier this year, where shares of the USDC issuer surged 10x from their IPO price. The pipeline for crypto IPOs remains robust, with BitGo, Grayscale, and Bullish (owner of CoinDesk) all having filed for public listings.