Figure (FIGR): The First Real World Asset Stock on Nasdaq

On 11 September 2025, Figure Technology Solutions, Inc. officially began trading on Nasdaq under the symbol FIGR. The company is the first of its kind, positioning itself as a real world asset stock by integrating blockchain with lending and capital markets. 

The listing is more than just a corporate milestone. It reflects how traditional finance is learning to operate alongside digital technologies, offering a glimpse into how the two worlds can strengthen one another.

A Successful Launch on Nasdaq

The public debut of Figure was marked by strong demand from institutional investors. The company priced its initial public offering at 25 dollars per share, above the expected range. In total, 31.5 million shares were offered, raising nearly 788 million dollars. 

The interest from investors was clear, with the issue several times oversubscribed. Notably, the Duquesne Family Office committed 50 million dollars to the offering, showing confidence from experienced market participants.

By the close of its first trading day, Figure’s shares had risen more than 24 percent to finish at 31.11 dollars. This increase gave the company a market value of around 6.6 billion dollars. 

Major underwriters such as Goldman Sachs, Jefferies, and Bank of America supported the listing, placing it within the same league as other established financial institutions.

The IPO of Figure follows those of Circle and Bullish, both of which also came from the wider crypto and blockchain sector. Together, these listings indicate that capital markets are warming to companies with digital finance models, provided they can show profitability, regulatory compliance, and clear growth. 

For investors, Figure’s success suggests that real world asset companies may become a regular feature on major exchanges in the years ahead.

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The Business Model Behind Figure

Figure was co founded in 2018 by Mike Cagney, who had previously helped build SoFi Technologies. The company started by offering home equity line of credit products. Over time, it expanded into crypto asset backed loans, digital marketplaces, and broader financial technology solutions. 

At the heart of its operations is the Provenance Blockchain, which serves as a record of ownership and transaction truth for the assets it handles.

Using blockchain allows Figure to simplify what have traditionally been slow and costly processes in lending. A typical home equity loan in the United States can take more than forty days to complete. 

By contrast, Figure’s system can process applications in just ten days. The company achieves this through full digitisation, including remote notary services, automated valuation models, and income verification powered by artificial intelligence. 

OpenAI’s technology is used in reviewing applications, while Google’s Gemini provides customer facing chatbot support. The company also created Figure Connect, a marketplace that brings together loan sellers and investors. In its first year, it processed more than 1.3 billion dollars in home equity credit transactions. 

Every transaction is recorded on blockchain, ensuring transparency and reducing the need for manual reconciliation. 

Partners such as banks and mortgage service providers can adopt Figure’s system to manage their own loan origination, creating an ecosystem that grows beyond the company’s direct business.

By combining traditional lending products with blockchain efficiencies, Figure is positioning itself not as a speculative crypto project but as an infrastructure provider. 

This approach has allowed it to win regulatory approval, secure industry partners, and build a foundation for scaling into wider capital markets activities.

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Financial Growth and Market Position

The decision to go public was supported by a track record of improving financial performance. In 2023, Figure reported revenue of 210 million dollars but remained unprofitable with a net loss of 52 million dollars. 

By 2024, revenue had grown to 341 million dollars and the company achieved a net profit of nearly 20 million dollars. The first half of 2025 showed even stronger results. Revenue reached 191 million dollars, an increase of 22 percent compared to the same period in 2024. 

Net profit for the half year stood at 29.3 million dollars, while adjusted EBITDA rose to 83.4 million dollars, more than double the previous year. 

This improvement was not only from loan sales but also from ecosystem and technology fees, which increased significantly to 43.7 million dollars.

By mid 2025, Figure had facilitated more than 50 billion dollars in combined real world and digital asset transactions. 

Of this, 11 billion dollars were in tokenised real world assets. The company now holds around 75 percent of the tokenised private credit market, according to industry data. 

With more than 160 active partners using its technology, its position as a leader in blockchain based lending appears well established.

The company’s infrastructure has proven particularly effective in reducing costs. While traditional mortgage originations can cost more than 11,000 dollars per loan, Figure has lowered this figure to about 730 dollars. 

This dramatic reduction is achieved through its automated systems and blockchain recording, which remove many of the manual tasks that weigh down legacy processes. The cost advantage is expected to remain one of its strongest competitive features as it scales.

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Conclusion

Figure’s listing on Nasdaq represents a turning point for both blockchain companies and traditional finance. 

By presenting itself as a real world asset stock with a clear business model, proven profitability, and strong demand, it has shown that digital finance can move into mainstream markets. 

For traders and investors, the listing demonstrates the growing potential of blockchain based infrastructure in consumer credit and beyond. 

For those who want to participate in crypto trading with similar security and reliability, Bitrue remains a practical choice, offering an easier and safer way to manage digital assets without needing to navigate the complexity of on chain transactions.

FAQ

What is Figure (FIGR)?

Figure is a financial technology company that uses blockchain to manage lending, trading, and investing in consumer credit and digital assets.

Why is Figure’s IPO important?

It is the first company focused on real world assets through blockchain to list on Nasdaq, showing wider acceptance of digital finance firms in public markets.

How does Figure use blockchain?

Figure records all loan and asset transactions on Provenance Blockchain, which ensures transparency, reduces costs, and speeds up processes.

Is Figure profitable?

Yes, Figure became profitable in 2024 and reported net income of 29 million dollars in the first half of 2025.

What does Figure’s success mean for crypto traders?

It shows that blockchain infrastructure is being recognised in mainstream finance. Traders can benefit by using reliable platforms such as Bitrue to manage their crypto assets securely.

Investor Caution 

While the crypto hype has been exciting, remember that the crypto space can be volatile. Always conduct your research, assess your risk tolerance, and consider the long-term potential of any investment.

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