Figure Tech Joins Crypto IPO Wave with Confidential SEC Filing

Figure Technology Solutions, Inc. has taken a significant step toward going public by submitting a confidential draft registration statement to the U.S. Securities and Exchange Commission. The blockchain-native company targets a 2025 IPO, riding the wave of crypto firms seeking access to public equity markets.

The filing, made under the Securities Act of 1933, follows SEC Rule 135 procedures. While share quantities and pricing remain undisclosed during the review process, the MOVE signals growing confidence in blockchain financial services. CEO Mike Cagney, a SoFi co-founder, confirmed the development amid mounting speculation.

Figure's planned debut coincides with a surge in public market activity across the digital asset sector. The company aims to leverage public capital to scale its blockchain-based financial platform, joining peers like Circle and Bullish in tapping equity markets for growth.