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Figure Technologies has successfully debuted on the Nasdaq, raising $787.5 million in its initial public offering. The blockchain-based lender specializes in tokenized home equity lines of credit and crypto-backed loans. This marks another significant crypto firm entering public markets following recent IPOs from Bullish and Circle.
- Figure's tokenized HELOC loans have a market cap of $12.5 billion, surpassing Avalanche's native token
- The company uses its Provenance blockchain to tokenize private credit with $11.7 billion in outstanding on-chain loans
- Figure's IPO was upsized from 26 million to 31.5 million shares, priced above the initial $20-22 target range
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