Figure Technology, a stablecoin issuer, successfully raised $787.5 million in its initial public offering on Wednesday, with shares priced above the company’s recently revised range.
The New York-based firm, along with some existing investors, sold 31.5 million shares at $25 apiece, surpassing the $20–$22 range set earlier. This places Figure’s market valuation at approximately $5.29 billion. The company had increased the number of shares offered from 26 million to 31.5 million on Tuesday, highlighting strong investor demand.
Trading of Figure shares will commence on the Nasdaq on Thursday under the ticker symbol (NASDAQ:FIGR).
The IPO reflects growing appetite for crypto firms to access public markets as digital assets gain wider mainstream acceptance. The cryptocurrency industry recently surpassed a total market capitalization of $4 trillion, driven by regulatory clarity under a pro-crypto U.S. administration, adoption by corporate treasuries, and inflows from crypto-focused ETFs.
Goldman Sachs, Jefferies, and BofA Securities served as the lead underwriters for the offering.
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