Figure Technology Solutions’ revenue increased by 22% in the first half of 2025 as per its U.S. IPO paperwork. The company reported $191 million in revenue and a profit of $29 million, a significant improvement from the previous year’s loss of $13 million.

The surge in revenue is attributed to a crypto-friendly environment and the success of stablecoin issuer Circle. Figure is one of many crypto firms looking to go public this year, joining Gemini, the Winklevoss twins’ crypto exchange, in the push for IPOs.

Co-founded by Mike Cagney in 2018, Figure is a blockchain-native platform focusing on lending, trading, and investing in consumer credit and digital assets. The company has originated over $16 billion of home equity and aims to bring liquidity to historically illiquid markets through blockchain technology.

The IPO, set to list on the Nasdaq under the symbol “FIGR,” will see Figure and its existing stockholders selling shares. Cagney, who also co-founded fintech SoFi, will retain majority voting power. Goldman Sachs, Jefferies, and BofA Securities are the lead underwriters for the offering.

Read more at Yahoo Finance: Blockchain lender Figure Technology reveals revenue surge in US IPO filing