Figure’s Nasdaq Debut Surges 24%, Validating Blockchain Lending Model

Figure (FIGR) marked a strong Nasdaq debut, closing at $31.11 after a 24% surge from its $25 pre-sale price. The blockchain-native lending platform achieved a $6.6 billion valuation, with shares peaking at $36.13 intraday—a 44.5% gain. Trading proceeded smoothly without halts, contrasting with recent volatile crypto IPOs like Circle and American Bitcoin.

The firm's tokenized credit model and established lending operations drew institutional confidence. "We're reimagining capital markets through blockchain," Figure stated, highlighting faster, cheaper, and more transparent transactions. VanEck analyst Matthew Sigel projects shares could double to $40 within a year, citing Figure's competitive positioning despite its smaller market cap relative to peers like Bullish and Galaxy Digital.