Figure Technology Solutions announced on Monday that it has filed confidential paperwork with the U.S. Securities and Exchange Commission (SEC) to go public later this year.
Figure joins a growing list of digital asset firms aiming to go public, looking to capitalize on the booming cryptocurrency and stock markets, along with recent U.S. regulatory advancements. Earlier this year, the USDC stablecoin issuer Circle had a remarkable debut on the Nasdaq, with shares skyrocketing from the IPO price of around $30 to $300. Other companies, including BitGo, Grayscale, and Bullish, have also filed for IPOs.
Founded by former SoFi CEO Mike Cagney, Figure has played a significant role in the rapidly growing real-world asset (RWA) sector, originating over $16 billion in home equity lines of credit using the Provenance Blockchain. Last month, the firm announced a merger with Figure Markets, the blockchain-based marketplace also established by Cagney and issuer of a yield-bearing stablecoin that operates as a tokenized money market fund.
Read more: DCG’s Barry Silbert Returns to Grayscale as Chairman Amid IPO Push
Leave a Reply