Figure Technology Solutions has filed for a Nasdaq IPO as crypto-related companies increasingly move to public markets, following Circle, Gemini and others.
The company aims to list its shares on Nasdaq under the ticker symbol ‘FIGR’. The move comes as several cryptocurrency-focused firms prepare similar market debuts. Figure disclosed the filing in a document with the Securities and Exchange Commission, noting that Goldman Sachs, Bank of America and Jefferies Financial Group would serve as lead underwriters. Alongside newly issued shares, some existing investors are also expected to sell part of their holdings.
Financial performance and background
Figure reported revenue of nearly USD 191 million for the first six months of 2025, an increase of more than 22% compared to the same period last year. The company posted a profit of USD 29 million, reversing a USD 13 million loss recorded in 2024. Founded in 2018, Figure operates a blockchain-based platform designed for lending, trading and asset tokenisation on the Provenance blockchain network. In a 2021 Series D funding round, the firm raised USD 200 million, giving it a valuation of USD 3.2 billion.
According to its filing, the company has originated more than USD 16 billion in blockchain-backed loans and facilitated over USD 50 billion in on-chain transactions. Officials from Figure described blockchain as a tool capable of improving liquidity in traditionally illiquid markets, such as loans, by making performance data transparent and accessible on-chain. They also highlighted the potential for blockchain to simplify financial services by reducing the number of intermediaries involved.
Figure’s IPO plans follow recent listings and filings from other crypto firms. Stablecoin issuer Circle went public earlier this year, while exchanges Gemini and Bullish, custodian BitGo, and investment firm Grayscale have all taken steps towards or completed offerings. Kraken is also expected to pursue a listing in the near future, according to Cointelegraph.
