Figure (FIGR) Revenue Doubles as Blockchain Loan Marketplace Volumes Surge

The tokenization-focused lender posted $226 million in quarterly revenue as blockchain loan marketplace volume jumped to $4.3 billion.

Figure's second-quarter revenue more than doubled to $226 million, while net income nearly tripled to $87 million. Consumer Loan Marketplace volume jumped 132% to $4.3 billion, with nearly two-thirds flowing through Figure Connect. FIGR shares rose roughly 5% in premarket trading Thursday, extending a 10% gain from Wednesday.

Figure Technology Solutions (FIGR), the blockchain lending firm co-founded in 2018 by former SoFi CEO Mike Cagney, more than doubled its revenue in the second quarter as lending activity surged across its marketplace.

The company reported $226 million in net revenue for the quarter ended June 30, up 113% from a year earlier. Net income climbed 192% to $87 million, or 35 cents per diluted share, while adjusted EBITDA more than doubled to $119 million.

Growth was driven by Figure's Consumer Loan Marketplace, where volume reached $4.3 billion, up 132% from a year ago. Figure Connect, the company's marketplace connecting loan originators with capital providers, accounted for $2.8 billion, or about 65%, of that total.

FIGR shares rose roughly 5% in premarket trading on Thursday, extending Wednesday's 10% gain.

Figure is one of the more established publicly traded companies working to move lending and capital-markets activity onto blockchain rails. Its platform connects loan originators with investors, using blockchain infrastructure to support the origination, financing and trading of assets such as home-equity loans. Much of that activity runs on Provenance, the public blockchain Figure helped build, and the company listed on Nasdaq through an initial public offering in September 2025, making its quarterly reports one of the few public windows into the economics of blockchain-based lending. Its growth also parallels a broader push across finance to put traditional assets on blockchain rails, as banks and asset managers expand work on tokenizing bonds, funds and other instruments.

The company added 102 loan-origination partners during the quarter, bringing the total to 489 across mortgage lenders, banks and fintech firms. CEO Michael Tannenbaum said weekly loan applications surpassed $1 billion in July.

Figure's other onchain products also expanded. Circulation of YLDS, its yield-bearing stablecoin, rose to $556 million at the end of June from $328 million at the end of 2025. YLDS became the first yield-bearing stablecoin to receive SEC qualification in February 2025, giving Figure an early foothold in a corner of the stablecoin market where most large issuers do not pass yield to token holders. Third-party borrowing through its Democratized Prime marketplace reached about $170 million as of Aug. 6.

For the third quarter, Figure expects Consumer Loan Marketplace volume of $4.8 billion to $5.2 billion, a range that points to further growth from the second quarter's $4.3 billion.

The company said its pending acquisition of Kiavi, a lender focused on financing real estate investors, remains on track to close in the second half of 2026. The deal would expand Figure into adjacent real estate lending markets and bring more loans to its marketplace.

Source: CoinDesk