Blockchain Lender Figure Technologies Aims for IPO in 2025
In an exciting move for the blockchain and financial technology sectors, Figure Technologies, a New York-based blockchain lender, has filed paperwork for an Initial Public Offering (IPO). Known for its innovative approach to lending, Figure uses a blockchain-based platform to provide financial services beyond the scope of traditional banks, including real estate lending.
As reported, the company experienced a 22% revenue increase in the first half of 2025, reaching $191 million, with a net income of $29.1 million. Founded in 2018, Figure Technologies has become a pioneer in utilizing blockchain to unlock new opportunities in lending, boasting over $16 billion in processed loans. The firm is also the largest nonbank provider of home equity lines of credit in the U.S.
Tokenization and Figure Technologies’ Dominance
One of Figure’s standout achievements is its leadership in the tokenization of real-world assets (RWA). Leveraging its proprietary Provenance blockchain, the company has secured more than 70% of the tokenized private credit market, with over $11 billion in active loans. This remarkable feat positions Provenance as the world’s largest RWA blockchain network by value locked, ahead of Ethereum in scope for private credit.
According to Illia Otychenko, lead analyst at CEX.IO, “Provenance is a focused RWA lending platform, setting a significant milestone for blockchain technology adoption in mainstream finance. The maturity of tokenization businesses is evident as they now rival crypto exchanges and stablecoin issuers in scaling and innovation.”
IPO Details and Financial Outlook
Figure’s IPO will be led by several financial heavyweights, including Goldman Sachs Group, Jefferies Financial Group, and Bank of America, with shares set to debut on the Nasdaq under the ticker symbol FIGR. While the official valuation remains undisclosed, the company was previously valued at $3.2 billion in its 2021 Series D funding round.
This IPO highlights a growing trend of blockchain firms going mainstream, aligning with recent developments from major crypto companies like Gemini, OKX, and Grayscale, which have also announced IPO plans in 2025. Increased regulatory clarity in the U.S. is further bolstering investor confidence in blockchain and crypto-based ventures.
The Future of Tokenization and Real-World Asset Adoption
The tokenization of real-world assets is emerging as a transformative trend, with Figure Technologies leading the charge. Using blockchain to digitize and streamline traditionally illiquid assets opens up vast opportunities for both investors and businesses, further shifting the paradigm of modern finance.
In anticipation of mainstream adoption, consider learning more about tokenization and how you can benefit from it as an investor. To explore tokenization and its role in personal finance, check out educational platforms like Coinbase.
Additionally, if you’re interested in diving deeper into blockchain’s impact, check out innovative blockchain solutions in real estate and lending. A notable example is Figure’s unique product, Home Equity Line of Credit, which offers seamless digital lending services.
Final Thoughts
As blockchain technology continues to evolve, Figure Technologies’ upcoming IPO signals a new era of maturity for the industry. By bridging the gap between traditional finance and blockchain innovation, tokenization is set to redefine how the world invests, borrows, and transacts. Stay tuned as Figure paves the way for the future of decentralized lending and financial accessibility.
