Fintech Powerhouse Charges Toward IPO with Provenance Blockchain Backing

Another fintech heavyweight throws its hat in the IPO ring—this time with blockchain muscle flexing behind the scenes.

Cutting Through the Traditional Tape

Provenance's distributed ledger tech bypasses legacy settlement systems, slashing processing times from days to minutes. No more waiting for Wall Street's antique plumbing to clear transactions.

The Numbers Don't Lie

While specific figures remain under wraps, insiders confirm the blockchain infrastructure handles volume that'd make traditional exchanges blush. We're talking throughput that leaves SWIFT in the dust.

Why This IPO Hits Different

This isn't just another cash grab—it's a legitimacy play for blockchain in mainstream finance. The same tech that powers crypto now underpins a traditional market debut. Talk about eating your own dog food.

Of course, Wall Street bankers will still take their cut—some traditions never die, even when the tech evolves.

Business Model and Growth

Founded in 2018, Figure leverages the Provenance Blockchain to deliver consumer lending services, with a Core focus on home equity lines of credit. The firm facilitated approximatelya 51% increase year-over-year.

The company operates on a dual-track model, offering lending under its own brand while also providing a white-label platform for banks and credit unions., Figure generated $375 million in revenue, with first-half 2025 revenue climbing 22% year-over-year to $191 million. Net income reached $29 million, marking a sharp turnaround from a $13 million loss in the same period last year.

Market Expansion and Regulatory Push

Beyond lending, Figure is expanding into securitization and tokenization of real-world assets (RWAs). In 2024, the company recorded more than ¥3 trillion ($20 billion+) in on-chain transactions and advanced the development of its YLDS stablecoin.

The IPO will be led by, highlighting strong ties with traditional Wall Street institutions. As global regulation around digital assets continues to mature and crypto markets rebound, Figure’s positioning at the intersection of blockchain and traditional finance underscores its bid to capture growing investor interest.

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