Figure Shares Jump 24% From IPO Price in Crypto Lender's Nasdaq Debut

Core Insights - Figure Technologies' shares closed at $31.11, a 24% increase from its IPO price of $25, resulting in a valuation of $6.58 billion [1] - The company aims to demonstrate the efficiency of blockchain in creating markets for real-world assets and enhancing investor understanding of tokenization [2] - Figure's blockchain platform significantly reduces the time and cost associated with obtaining loans, completing processes in days rather than weeks and lowering mortgage costs from $12,000 to $1,000 [3][4] Company Performance - Figure has $11.7 billion in outstanding loans, making it the largest market for private credit on-chain, and has originated $16 billion in loans since its establishment in 2018 [4] - The IPO of Figure is seen as a potential catalyst for traditional investors to engage with tokenization narratives [5] Market Trends - There is a growing belief among investors that digital assets will disrupt traditional financial services, indicating a long-term appreciation for blockchain technology [6] - The interest in Figure's IPO reflects a shift towards valuing utility over speculation, particularly in the context of its cash-flowing, real-world credit platform [7]