Real-World Asset Tokenization Firm Figure Seeks $526 Million in IPO
Figure Technology Solutions Inc. and certain backers are seeking to raise $526 million in an initial public offering (IPO), planning to offer 21.5 million shares and sell 4.9 million more at a proposed range of $18 to $20 per share, the company said in an SEC filing.
At the top of the range the offering would value Figure at about $4.13 billion; a 2021 round had valued it at $3.2 billion. Founded in 2018 by Mike Cagney and led since 2024 by CEO Michael Tannenbaum, Figure develops blockchain-based lending technology and has funded more than $16 billion in loans, including HELOCs, crypto-backed loans and a digital asset exchange. For the six months to June 30, 2025, Figure reported net income of $29.1 million on $190.6 million revenue; IPO pricing is expected Sept. 10 with Nasdaq ticker FIGR.
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BitGo wins BaFIN nod to offer regulated crypto trading in Europe
BitGo’s move creates further competition in a burgeoning European crypto market that is expected to generate $26 billion revenue this year, according to one estimate. BitGo, a digital asset infrastructure company with more than $100 billion in assets under custody, has received an extension of its license from Germany’s Federal Financial Supervisory Authority (BaFin), enabling it to offer crypto services to European investors. The company said its local subsidiary, BitGo Europe, can now provide custody, staking, transfer, and trading services. Institutional clients will also have access to an over-the-counter (OTC) trading desk and multiple liquidity venues.The extension builds on BitGo’s previous Markets-in-Crypto-Assets (MiCA) license, also issued by BaFIN, and adds trading to the existing custody, transfer and staking services. BitGo acquired its initial MiCA license in May 2025, which allowed it to offer certain services to traditional institutions and crypto native companies in the European Union.Read more