figuretechnology

The push to take blockchain companies public is accelerating, and Figure Technology Solutions has become the latest to step forward. The San Francisco–based fintech is preparing a $526 million IPO, targeting a valuation of up to $4.3 billion.
Figure’s path hasn’t been typical. It began as a consumer lending platform, offering homeowners a digital spin on equity credit lines. Over time, it shifted its focus to blockchain infrastructure, building financial products on the Provenance Blockchain. That evolution has placed it in the middle of a broader movement: the integration of blockchain into traditional finance.
The IPO filing details are telling. The company plans to sell 21.5 million shares priced between $18 and $20, with existing holders also selling a portion. At the higher end of the range, the deal would represent one of the largest blockchain-driven listings this year.
Momentum is clearly building across the sector. Stablecoin issuer Circle made headlines with its blockbuster listing earlier this summer, while Bullish surged on debut before settling at a multi-billion-dollar valuation. Exchanges like Gemini and Kraken are lining up their own offerings, signaling that the appetite for crypto equity plays isn’t slowing.
For Figure, the listing marks more than a capital raise. It’s a test of whether blockchain-focused lenders can capture investor trust on the same scale as traditional fintech firms. With revenues climbing to nearly $200 million in the first half of the year, the fundamentals suggest it’s not just riding the IPO wave, it’s trying to anchor itself within it.
As the calendar inches closer to the September 10 pricing date, Figure’s debut will be closely watched. In a market that’s finally seeing blockchain companies enter the public mainstream, each IPO isn’t just about valuation, it’s about proving whether these businesses can translate crypto infrastructure into lasting financial growth.
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