The company joins a growing list of crypto firms tapping public markets recently, encouraged by the market momentum and supportive policies under the Trump administration.

A trader watches his monitors on the trading floor. (Photo by Boris Roessler/picture alliance via Getty Images)

Yuvraj Malik·Stocktwits

Published Aug 18, 2025 | 10:57 PM GMT-04

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Figure Technology Solutions, which offers crypto trading and crypto-backed loans, has filed for an initial public offering of its shares on the New York Stock Exchange, according to a securities filing on Monday.

Figure joins a growing list of crypto firms tapping public markets recently, encouraged by the market momentum and supportive policies under the Trump administration.

The SPDR S&P 500 ETF (SPY), an exchange-traded fund that tracks the performance of the broader S&P 500 gauge, has gained over 10% this year.

Stablecoin issuer Circle and trading platform Bullish had strong debuts in recent months, while Winklevoss twins' crypto exchange, Gemini, filed for a New York IPO last week. The development also highlights a buoyant period for U.S. listings, with high-profile debuts from data-infrastructure provider CoreWeave and design-software maker Figma earlier this year.

Figure was co-founded in 2018 by Mike Cagney, who was part of the team that started SoFi Technologies and stepped down as its chief executive in 2018.

Figure's revenue rose 22.4% to $191 million in the six months through June. The company made a profit of $29 million, compared to a $13 million loss in the same period a year earlier.

Figure was valued at $3.2 billion in its last funding round in 2021. Its backers include Apollo Global Management, 10T Holdings, and Ribbit Capital. The company has not disclosed the size of the offering yet.

Goldman Sachs, Jefferies, and Bank of America Securities are the lead underwriters of the IPO.

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