Figure, a lender utilizing blockchain technology founded by Mike Cagney, has recently filed for an initial public offering (IPO), positioning itself amidst a growing wave of crypto companies looking to enter the equity markets. The company aims to list its Class A shares on Nasdaq under the ticker symbol FIGR, with major financial institutions such as Goldman Sachs, Jefferies, and BofA Securities as lead underwriters.

Key Highlights:

• Figure reported a 22.4% increase in revenue during the first half of 2025, achieving a net income of $29 million, a significant turnaround from a previous year’s loss.
• The IPO will focus on supporting working capital and potential acquisitions, with no dividends anticipated.
• The company’s journey to public markets includes efforts like launching a special purpose acquisition company in 2021, which ultimately did not come to fruition.

The upcoming IPO follows a confidential submission to the Securities and Exchange Commission (SEC) this month and aligns with the current trend in the crypto landscape where firms are increasingly pursuing public offerings to access capital markets.