Figure Shares Surge 24% in Nasdaq Debut, Bolstering Blockchain Credibility

Figure Technologies' stock closed at $31.11 on its Nasdaq debut, marking a 24% premium to its $25 IPO price. The blockchain-based lending platform now commands a $6.58 billion valuation, with shares briefly touching $36 during initial trading.

CEO Michael Tannenbaum positions the offering as a watershed moment for asset tokenization, demonstrating how distributed ledger technology can compress mortgage processing from six weeks to days while slashing costs from $12,000 to $1,000 per loan. "We're delivering tangible consumer savings through blockchain's foundational principles," Tannenbaum told Decrypt.

The successful listing reinforces growing institutional appetite for crypto-adjacent equities, particularly those bridging traditional finance with blockchain efficiencies. Analysts suggest Figure's public market validation could accelerate RWAs (real-world assets) adoption across Wall Street.