Blockchain lender Figure Technologies has filed for an IPO, reporting a 22% revenue increase to $191 million in the first half of 2025, with a net income of $29.1 million. Founded in 2018, Figure specializes in blockchain-based lending solutions, claiming to be the largest nonbank home equity line provider in the U.S., with over $16 billion in home loans facilitated. The company asserts that it dominates the tokenized private credit market, holding a 70% share and over $11 billion in active loans on its Provenance blockchain. Analysts observe that this move marks a maturation in the tokenization sector, aligning it with established financial players. Goldman Sachs, Jefferies, and Bank of America are set to lead the IPO, which is expected to be listed on Nasdaq under the ticker FIGR. The company was valued at $3.2 billion during a 2021 funding round, underscoring the growing interest in public market involvement from innovative blockchain firms.

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