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Figure Technology has filed for a Nasdaq IPO after reporting $29 million in net income for the first half of 2025. The blockchain-based lender marks one of the first of its kind to reach U.S. public markets. This move tests investor appetite for tokenized real-world assets rather than speculative tokens.
- Achieved $29M net income in H1 2025, reversing a $13M loss from H1 2024
- Uses blockchain to tokenize and fractionalize loan pools, enhancing liquidity in credit markets
- Plans dual-class share structure with founder Mike Cagney retaining majority voting control
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