Figure Technologies made a high-profile entrance to the public markets, with its Nasdaq debut underscoring both the growing momentum of crypto-related IPOs and the strong investor appetite for blockchain-backed finance.
A Strong Debut on Wall Street
The Figure IPO was priced at $36 per share and immediately drew heavy demand. Shares climbed more than 20% on the first day, closing around $44. That put the blockchain lender Figure at a valuation between $6.6 billion and $7.6 billion. The successful listing makes Figure Technologies’ Nasdaq debut one of the largest blockchain offerings on the market this year. Investors will now be watching its stock closely to see if it can sustain the opening momentum.
From Startup Vision to Nasdaq Milestone
Founded by former SoFi chief executive Mike Cagney, Figure built its model on tokenized lending and blockchain-driven securitization. Cagney has repeatedly argued that blockchain rails can lower costs and boost efficiency in financial markets. The company emphasizes how its technology can streamline capital markets. It also aims to cut costs for borrowers and investors. After swinging to profitability earlier this year, the lender was in a stronger position to win over Wall Street ahead of its IPO.
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Market Performance and Valuation
Investors drove the stock higher throughout the opening session. This signaled confidence in the company’s ability to compete with traditional fintechs. Reports varied on the exact Figure valuation. Some outlets cited $6.6 billion, while others estimated closer to $7.6 billion. Either way, the Figure stock surge puts the company in line with other high-profile fintech listings. It also positions Figure as a test case for future blockchain IPO deals. The company’s performance will be seen as a benchmark for how markets value blockchain lenders.
Investor Appetite and the Crypto IPO Wave
Figure’s warm reception to the Nasdaq comes amid renewed momentum for crypto-related listings. Analysts view the strong demand as an encouraging sign for the sector. Circle, the issuer of USDC, already completed its IPO earlier this year, while Gemini is preparing for a potential debut. Together, these moves highlight a broader shift toward crypto adoption on Wall Street, where institutional investors are increasingly backing firms that put blockchain at the center of their business models.
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Risks on the Horizon
Despite the strong showing, some analysts warn that long-term sustainability remains untested. The profitability of blockchain lending will depend on scaling its securitization business and staying competitive with traditional financial firms. In addition, market volatility remains a risk. Valuations tied to crypto infrastructure have historically been prone to sharp swings. However, the blockchain lender Figure will likely utilize its public platform to demonstrate its resilience across various market cycles.
Outlook: A Bellwether for Tokenized Finance
The Figure IPO is more than a single company’s success. It may set the tone for how investors evaluate upcoming crypto-related listings. If Figure sustains its momentum, it could accelerate the adoption of tokenized finance across traditional capital markets. On the other hand, if performance falters, it may trigger doubts about whether blockchain models can deliver durable profits at scale.
Either way, Figure Technologies’ Nasdaq debut has already marked a milestone. Wall Street is betting big that blockchain can redefine how lending and investing are done, and the outcome may shape broader Wall Street crypto adoption in the years ahead.
Readers’ frequently asked questions
What ticker symbol does Figure trade under on Nasdaq?
Figure Technologies trades under the ticker symbol FIGR on the Nasdaq exchange.
How does Figure use blockchain in its lending business?
Figure integrates blockchain into loan origination, securitization, and settlement. This approach is designed to cut costs, speed up transaction times, and improve transparency compared to traditional lending methods.
What risks should investors consider with Figure stock?
Investors should keep in mind that blockchain lending is still a young sector. Profitability will depend on scaling, competition from both fintechs and banks, and broader crypto market volatility, which can affect valuations.
What Is In It For You? Action items you might want to consider
Track FIGR’s stock performance in the weeks after the IPO
Figure’s strong debut drew investor attention, but early volatility is common with new listings. Monitoring how FIGR trades in the first 30–60 days can offer clues about long-term market confidence.
Evaluate blockchain lending as part of your investment strategy
Figure’s IPO highlights the growing role of blockchain in financial services. If you follow fintech or tokenized finance, consider how blockchain-based lenders compare to traditional financial institutions in terms of risk and opportunity.
Watch for future crypto-related IPOs
With Circle already public and Gemini preparing for a potential listing, Figure’s success may encourage more blockchain firms to go public. Keeping an eye on this trend can help investors anticipate new opportunities in the sector.
[…] Nasdaq debut comes amid a broader crypto IPO boom, with peers such as Figure, Bullish, and Circle also entering the public markets this year. Investor enthusiasm suggests […]