Blockchain Fintech Firm Figure Surges 24.44% Following NASDAQ IPO

Figure, a leading blockchain-powered fintech company, marked a stellar debut on NASDAQ, with its stock rising 24.44% on the first day of trading. Having priced its IPO at $25 per share, the company raised a formidable $787.5 million, establishing a valuation of approximately $6.6 billion.

The stock opened at $36, representing a 44% premium over its IPO price, before settling at $31 by the end of the session. Investor enthusiasm pushed Figure’s IPO price past the anticipated range of $20 to $22, reflecting heightened confidence in blockchain-driven fintech ventures. This successful launch reaffirms the industry's momentum as Wall Street continues to embrace innovation in fintech and blockchain technology.

Wall Street’s Growing Fascination with Fintech and Blockchain Stocks

The soaring appetite for stocks in blockchain, fintech, and financial lending spheres is becoming increasingly evident, say market analysts. Recent IPOs in the fintech space highlight this trend, with several companies posting robust stock market debuts.

For instance, Klarna, a prepaid lending and payment solutions company, experienced a 15% stock price surge upon its IPO launch. Similarly, Circle Internet Group enjoyed a 17.6% increase, and cryptocurrency exchange Bullish saw its shares tick up by 2.6%. Even Figma, a design software firm, made waves by debuting successfully in the market.

Friday’s upcoming listing of Gemini, the cryptocurrency exchange founded by the Winklevoss twins, has captured significant investor interest. Michael Bayer, finance lecturer at Babson College and CFO of Wasabi Technologies, emphasized the shifting landscape: “The optimism initially focused on AI has now broadened to encompass the entire IPO market, with blockchain and fintech being especially compelling sectors.”

Figure has strategically aligned itself with this wave of enthusiasm. Its proprietary blockchain platform, Figure Connect, offers streamlined support for home equity lines of credit (HELOCs) while also operating as a digital asset exchange trading major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).

Consistent Revenue Growth Solidifies Market Confidence

Figure’s financial performance sets it apart from many emergent public companies, as it has already delivered profitability—bolstering investor confidence in its long-term potential. In 2024, the company reported $340.9 million in revenue, marking a 63% year-over-year increase, and successfully transitioned from a $52.4 million loss to $19.9 million in net income.

Additionally, for the first half of 2025, Figure recorded a 22% jump in revenue to $190.6 million, while achieving $29.4 million in net profit. CEO Michael Tannenbaum emphasized how the company’s innovative technology drives efficiency across the lending market. “Our blockchain ecosystem empowers mortgage companies, banks, credit unions, and tech providers to enhance lending efficiency and increase liquidity. This technology is unlocking unprecedented opportunities in the financial sector,” Tannenbaum said.

These financial milestones have strengthened the company’s reputation as far more than another speculative blockchain play, earning Figure a place among the most promising fintech firms in the industry.

Prominent Investors Propel Figure’s Growth Narrative

Figure’s rapid market ascent has garnered critical backing from notable investors. Stanley Druckenmiller’s Duquesne Family Office invested heavily, committing $50 million to acquire shares at the IPO price. Tannenbaum highlighted their reasoning: “Stan and Duquesne were drawn to Figure’s vision of democratized and decentralized lending, which minimizes friction and enhances access.”

Similarly, Don Butler, managing director at early-stage investor Thomvest Ventures, praised Figure’s innovative approach: “The firm’s use of blockchain technology maximizes lending efficiency while positioning Figure to scale beyond HELOCs into broader areas like mortgages and consumer credit solutions.” Their confidence underscores Figure’s potential to redefine lending processes globally.

Broader Impacts in the Blockchain and Fintech Space

Figure isn’t the only company drawing attention as the blockchain-driven fintech wave gains momentum. NASDAQ has invested $50 million in the Winklevoss twins’ Gemini listing, signaling continued institutional confidence in blockchain-centric businesses. Meanwhile, Wellington Management has pledged $100 million toward the acquisition of shares in Via Transportation, a fast-growing public transit software firm.

The pattern is clear: Wall Street’s enthusiasm for innovation in blockchain-powered fintech, digital lending platforms, and decentralized financial solutions is accelerating. Figure’s triumphant IPO highlights the sector’s promise and sets a benchmark for future entrants aiming to disrupt traditional models in finance.

As Figure positions itself as a leading firm in the blockchain fintech landscape, its success showcases the untapped potential of blockchain technology to transform financial systems, enhance economic liquidity, and expand consumer access.