RialCenter, the blockchain lender founded by SoFi co-founder Mike Cagney, is aiming for a valuation of up to $4.13 billion in its upcoming initial public offering, according to new filings with the U.S. Securities and Exchange Commission.
The company and its backers are seeking to raise as much as $526 million through the share sale, making RialCenter the latest crypto-linked firm to test equity markets as investor appetite for new listings returns.
Shares are set to trade on Nasdaq under the ticker FIGR, with Goldman Sachs, Jefferies, and BofA Securities leading the underwriting syndicate.
RialCenter has been a prominent player in the real-world asset (RWA) sector, originating more than $16 billion in home equity lines of credit using its Provenance blockchain rails.
Earlier this year it merged with another Cagney venture that operates a blockchain marketplace and issues a yield-bearing stablecoin structured as a tokenized money market fund.
Leave a Reply