Blockchain-based Figure confidentially files for US IPO, as more of the crypto horde goes public
The Blockchain-based lender platform, Figure, is set to make its debut in the stock markets after filing for a U.S. initial public offering confidentially this week.
Summary
- Blockchain-based lending platform Figure files S-1 form confidentially with the U.S. SEC.
- Figure becomes one of many crypto firms to file for a public listing on the market in the wake of the Trump administration’s support for the crypto industry.
In a recent Bloomberg report, it was revealed that the firm has filed for an initial public offering. However the filing was not made public as the company filed confidentially. A statement made at the start of the week did not reveal much aside from the fact that the filing is for an S-1 Form with the U.S. Securities and Exchange Commission.
The proposed initial public offering of its equity securities expected to take place sometime within the second half of 2025. According to the notice, the number of shares being offered as well as the price range for the proposed offering have yet to be determined.
“The offering is subject to market and other conditions, as well as the completion of the SEC’s review process,” said Figure Technology Solutions in its written statement.
Figure becomes latest to join crypto firm IPO queue
Figure becomes the latest crypto-related firm to jump on the IPO bandwagon following Circle’s IPO which went viral for generating significant interest. This shift in public listings also indicates that crypto firms are coming out of hiding and making the most out of the opportunity presented by the Trump administration’s open support for the crypto industry.
On June 6, Circle (USDC) made its debut on the stock market with a price that surged 120% from its initial offering.
In fact, Circle increased the deal and began offering 34 million shares at $31 each, raising about $1.1 billion. The company was valued at $6.8 billion before trading even began.
Around the same time as Figure, Peter Thiel-backed exchange Bullish has also filed for an IPO with the SEC. The exchange is targeting a valuation of up to $4.23 billion in its United States listing, according to crypto.news’ report.
In mid-July, the digital asset custodian BitGo confidentially submitted a draft registration statement on Form S-1 to the Securities and Exchange Commission for a proposed IPO of its Class A common stock.
Other firms which have recently filed to list publicly include Grayscale and the Winklevoss’ Gemini among others.
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