Figure increases IPO size as institutional crypto flows rise

Blockchain-focused fintech company Figure Technologies is expanding its public offering as institutional flows into crypto increase.

Figure Technologies has raised the size and price range of its upcoming IPO, aiming to generate nearly $800 million from share sales, Reuters reports. The company increased its IPO to 26.6 million Class A shares at $20–$22 per share and added 4.85 million shares from existing shareholders. The move comes as institutional and retail interest in crypto-related stocks grows, signaling strong demand for the company’s NASDAQ debut on September 11 under the ticker FIGR.

In August, Figure reported a 22.4% increase in revenue to $191 million for the first half of 2025, along with a net profit of $29 million, reversing last year’s loss. Founded in 2018 by Mike Cagney and June Ou, Figure is behind the development of the Provenance Blockchain, designed for the financial industry, and its utility token, HASH. Its solutions include the Figure Exchange, DART (Digital Asset Registration Technologies) tokenization platform, YLDS stablecoin, and the decentralized lending platform Democratized Prime.

According to an SEC filing, the platform has facilitated over $50 billion in transactions since its launch. As of August 1, 2025, the total value locked in real-world assets on Provenance Blockchain was around $11 billion, with Figure holding around 75% of the tokenized private credit market.

In recent months, several blockchain companies have gone public, including Bitcoin mining and treasury company American Bitcoin, USDC issuer Circle, and the Bullish crypto exchange. Another crypto exchange, Gemini, is preparing to go public on Nasdaq on September 12 under the ticker GEMI. Previously, we reported that Gemini increased its IPO to around $433 million after raising the price range to $24–$26 per share.

Figure Technologies raises its IPO size amid crypto inflows