Figure Technology Solutions, a leading blockchain-native capital marketplace for the origination, funding, sale, and trading of tokenized assets, reported a sharp increase in second-quarter lending activity and profit on Thursday, as the blockchain-based financial technology company continued to expand its loan marketplace and brought additional originators onto its network.

Volume, Revenue and Profitability Accelerate

Consumer loan marketplace volume rose 132% from a year earlier to $4.3 billion in the three months ended June 30, Figure said. Net income climbed 192% to $87 million, up from approximately $30 million in the year-earlier quarter, while net revenue more than doubled to $226 million.

The gains in lending were matched by stronger profitability: the company's net income margin rose 10.5 percentage points to 38.8%, underscoring the improvement in the bottom line alongside higher lending volumes.

Figure Connect Drives Marketplace Growth

Figure's consumer loan marketplace spans several product categories: home equity lines of credit, which let homeowners borrow against the equity in their properties; debt-service coverage ratio loans, a type of financing typically underwritten on the cash flow of investment properties rather than a borrower's personal income; and personal loans processed through its own loan-origination system, as well as third-party loans traded on Figure Connect, the company's loan-trading platform.

Figure Connect accounted for $2.8 billion, or about 65%, of total marketplace volume in the quarter, and its volume rose 262% from a year earlier, outpacing the marketplace's overall growth rate.

The results also highlight a broader shift in Figure's business toward marketplace activity. With Figure Connect accounting for nearly two-thirds of quarterly consumer loan volume, growth in the trading platform is becoming an increasingly important contributor to the company's overall lending activity — and, because Connect carries loans originated by others, it extends the reach of Figure's network beyond the volume the company produces through its own origination system.

During the quarter, Figure added 102 loan-origination partners, taking the total number of partners across its network to 489.

Guidance and Post-Quarter Momentum

Chief Executive Michael Tannenbaum said weekly loan applications exceeded $1 billion in July, pointing to continued momentum in the weeks following the end of the quarter.

Looking ahead, Figure expects consumer loan marketplace volume of between $4.8 billion and $5.2 billion in the third quarter, which would imply further growth from the second-quarter level. Upcoming disclosures will show whether third-quarter volume lands within that range and how the mix between loans Figure originates itself and volume traded through Connect evolves.

Blockchain Infrastructure Behind the Expansion

Figure, founded in 2018 and which launched its marketplace in June 2024, is using blockchain infrastructure to support the origination, financing, and trading of loans, with its operations built on Provenance, a public blockchain designed for financial services. The company's expansion comes as financial firms increasingly explore tokenization and on-chain systems as a means of moving traditionally illiquid assets — from loans to money-market funds — onto digital platforms, a corner of the market commonly described as tokenized real-world assets.

Bernstein analysts had forecast record second-quarter volume in May 2026, citing blockchain data that could allow investors to monitor Figure's lending activity more closely and in near real time.

Source: BitcoinKE