Blockchain lending company Figure Technologies plans IPO, signaling the maturation of the tokenization industry.

PANews reported on August 19 that blockchain lending company Figure Technologies has submitted preliminary documents for an IPO and is expected to go public in 2025. The company reported a 22% increase in revenue to $191 million in the first half of 2025, with net income reaching $29.1 million.

Founded in 2018, Figure utilizes blockchain technology to provide lending services in real estate and other sectors. It is the largest non-bank provider of home equity loans in the United States, having processed over $16 billion in mortgage loans. Its Provenance blockchain holds a 70% share of the tokenized private credit market, with over $11 billion in locked-in value, making it the largest physical asset network. Goldman Sachs, Jefferies, and Bank of America will lead the IPO, under the ticker symbol FIGR. Analysts believe this demonstrates the growing acceptance and maturity of the tokenization industry by mainstream businesses.