Key Takeaways:
- Figure Technology aims to raise $526M in an IPO, targeting a $4.3B valuation amid crypto market momentum.
- The firm has shifted from consumer lending to blockchain-based financial services on the Provenance Blockchain.
- Its IPO follows a wave of crypto firms going public, including Gemini, Bullish, and Circle.
Figure Technology Solutions, a blockchain-focused lender, is preparing for a $526 million initial public offering (IPO) that could value the firm at about $4.3 billion.
According to filings with the U.S. Securities and Exchange Commission, Figure plans to sell 21.5 million shares priced between $18 and $20, with nearly 5 million shares coming from existing holders.
Blockchain-based credit company Figure Technology Solutions and some of its backers are seeking to raise $526 million in an initial public offering https://t.co/fXcVMC1aL8
— Bloomberg (@business) September 2, 2025
The IPO pricing is scheduled for September 10.
Founded as a digitized home equity lender, Figure has since pivoted to offering blockchain-based financial products through its Provenance Blockchain, aiming to modernize lending and securitization.
The company’s valuation has climbed since its $3.2 billion Series D round in 2021, with $191 million in revenue reported in the first half of 2025.
Figure’s IPO aligns with a broader wave of crypto firms going public.
Gemini has also filed for an IPO targeting $317 million, Kraken is planning a 2026 debut that could value it at $15 billion, and Bullish recently surged to a $9.6 billion market cap after its offering.
Meanwhile, Stablecoin issuer Circle raised about $1.1 billion, and new vehicles such as crypto-focused SPACs underscore the sector’s expanding push into public markets.
About The Author
Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
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