Figure Technologies shares rose 24% during its Nasdaq debut, closing at $31.11, significantly above its IPO price of $25. This positive market reception highlights growing investor interest in crypto-backed firms. The company utilizes a blockchain-based lending platform that streamlines mortgage processes, reducing costs and time significantly. Figure's CEO emphasized the firm's unique value proposition in demonstrating the practical applications of blockchain in facilitating real-world asset transactions. The platform currently manages $11.7 billion in loans, positioning itself as a major player in on-chain private credit. The successful IPO is seen as a boost for ongoing discussions about tokenization in traditional financial services, suggesting that digital assets may disrupt conventional market structures. Analysts predict that Figure's public offering will attract more traditional investors to blockchain technologies and highlight the sustained demand for efficient financial solutions.

Source 🔗