Figure | Crypto

Figure expects consumer loan marketplace volume to range from $4.8 billion to $5.2 billion in the third quarter. Figure Technology Solutions reported $4.3 billion in consumer loan marketplace volume for the second quarter, up 132% from a year earlier, as its quarterly profit nearly tripled.  On Thursday, Figure said net income rose 192% year-on-year to $87 million, from about $30 million. Net revenue more than doubled to $226 million, while its net income margin increased 10.5 percentage points to 38.8%.  Figure’s marketplace volume includes home equity lines of credit, debt-service coverage ratio loans and personal loans processed through its loan origination system, along with third-party loans traded on Figure Connect, which accounted for $2.8 billion, or 65%, of the quarterly total.  Read more

FIGR stock retreated after a brief rally as shifting sentiment hits crypto-linked equities, even as analysts point to strong growth in the fintech's blockchain-based lending. It's been a volatile week for the shares of Figure Technology Solutions as crypto-linked stocks react to shifting investor sentiment and early signs of a broader market rebound. FIGR stock fell more than 9% in early Thursday trading, slipping back to the mid-$32 range after climbing near $37 earlier in the week. The earlier gains were driven by momentum in crypto-related equities and growing investor interest in companies tied to blockchain-based lending. Today's decline extended Figure's more than 20% year-to-date slide, reflecting ongoing uncertainty around both crypto markets and higher-growth technology stocks. The sharp swings highlight how sensitive the stock has become to changes in market sentiment.  Read more

Figure Technology is adding auto loans to Democratized Prime and extending Hastra beyond Solana, widening tokenized consumer credit access for DeFi investors. Blockchain-based lender Figure Technology Solutions and Hastra, its onchain credit platform, are adding auto loans to their tokenized credit marketplace, broadening the real-world assets (RWAs) available to decentralized finance (DeFi) investors beyond home equity products. Democratized Prime, a decentralized lending marketplace on Figure Markets, is adding auto finance as its first new asset class as part of its plan to build a marketplace where different types of consumer credit can be issued, traded and funded onchain, according to a Tuesday announcement shared with Cointelegraph. “We’ve been purposefully building toward this,” Michael Tannenbaum, CEO of Figure, said, adding that the platform has originated over $22 billion in onchain loans. Read more

The Wall Street broker said that the regulatory momentum and a volatile banking backdrop are amplifying demand for Figure’s blockchain-based credit platform.

Figure (FIGR) shares closed at $31.11 on its Sept. 11 Nasdaq debut, gaining 24% from the $25 pre-sale price and establishing a $6.6 billion market cap with 211.66 million shares outstanding. The blockchain-native lending platform reached an intraday peak of $36.13, representing a 44.5% surge, before settling at closing levels. The debut proceeded without trading […] The post Figure debuts with 24% gain as blockchain lending platform achieves $6.6 billion valuation appeared first on CryptoSlate.