Catenaa, Tuesday, August 05, 2025- Figure Technology Solutions, led by SoFi co-founder Mike Cagney, has confidentially submitted draft documents for an initial public offering with the SEC, reports said.
The blockchain-focused lending platform has not disclosed the number of shares or expected price range for the offering.
Figure brands itself as the largest non-bank provider of home equity financing.
A post on X, said the move formalizes discussions that had circulated in the market.
Figure joins a wave of crypto-linked companies pursuing public listings to raise capital, including Grayscale Investments, Peter Thiel-backed Bullish, and BitGo.
The push comes amid renewed investor interest in digital asset firms following Circle Internet Group’s successful June IPO, which saw shares surge more than 500% in two weeks.
Bullish also filed for IPO aiming to raise more than $600 million at a $4.2 billion valuation.
Figure Technology recently merged with Figure Markets, expanding its blockchain-based capital marketplace to integrate origination, funding, and secondary market activity. The firm has raised over $120 million since its 2019 launch, initially targeting lending solutions for older homeowners with limited liquidity.
