Blockchain-based lender data technology solution Have officially filed For an initial public offering, marking another step by crypto-related firms is looking for a slice of trillion-dollars machine of public markets.
Crypto bros and banks both love them Already celebrating Steps to go publicly, which they say is an important milestone in the developed intersection of cryptocurrency, blockchain technology and mainstream finance.
Analysts say it indicates a comprehensive change of how the first people are making more comfortable investments in it.
“Crypto IPO is becoming one of the large columns of the market,” Joseph Shoaster, CEO of IPOX Told ReutersMention of companies going public through vacant-check merger.
Thus all has gone against logic so far Granted by recent elections, Which has shown At least 60% people askedAnd Sometimes as 90%At all, do not know what Crypto is or how it works, but will definitely not invest its money in it.
“It just seems suspicious,” for a defendant This National Cryptocurrency Association Poll Said in July 2025.
Figure CEO Mike Cagney nodded in this proof-of-concept or any dice investor attitude A 2021 interview.
“When we started back in 2018, I think we were hopeful that we could just be a blockchain-technical company and do not need to make another lending business and a payment business and everything else,” Cagni said. “The thing that has become very clear for us is that the world was not ready to bend in blockchain, so we made these operating businesses.”
Why does it matter to Crypto?
This IPO, however, can look a slight soft look for crypto companies that really appear, or prove that they do something tangible.
The focus of the figure on practical applications focus-like-like offering crypto-supported loans and using blockchain for transparent, rapid underwriting-how can blockchain can be integrated into core financial services.
It shows its website it uses Alphabet ink.From Google Gemini Chatbot and Tech Openi Ink. To squeeze through loan applications.
This approach reminds how banks and fintech firms like Sophie and Robinhood (Which became public in 2021 and 2019 respectively) Traditionally, they are taking advantage of technology to strengthen traditional banking.
It echoes similar moves by companies such as trend coinbase, which publicly publicly raked $ 85 billion in 2021-which was together-which was together which was together. Support Crypto as a valid asset And Make it more misleadingdepending on Who did you ask,
Unlike earlier crypto firms, in regulatory controversies, in the second half of the large scale of the figure of 22% year and its support by major institutional investors like Apollo Global Management and Rebit Capital Credibility can also lend The role of blockchain in mainstream finance.
What is hell anyway?
Cum-installation by Cagney, who helped launch another major blockchain booster and Fintech Sophie Technologies first, helping to create figure loans.
The company says Thus, it has so far given a loan of $ 16 billion, including credit home equity lines, crypto-supported loans and digital asset exchanges, which bring all blockchain to consumer finance.
The tick symbol is expected to trade shares on Nasdaq under Figr.
The New York city based in 2018 is expecting a bite of the current landscape, where digital property and blockchain techniques are rapidly differentiated with mainstream finance.
This is still a controversial step.
According to its recent SEC filingThe figure posted a net income of $ 29.1 million at a revenue of $ 43.8 million for the first half of 2025, a notable change from a net loss of $ 12.5 million in revenue a year ago during the same period.
Company Announced your intention to go first publicly Through a confidential filing earlier this month. Pre-funding rounds, including 2021 Venture-Masked Growth, Gave the company a price of $ 3.2 billion.
