Core Insights - Figure Technology Solutions reported strong preliminary financial results for Q4 and full year 2025, highlighting significant growth in its Consumer Loan Marketplace and blockchain ecosystem [1][2][3]. Financial Performance - For Q4 2025, the Consumer Loan Marketplace volume reached $2.7 billion, marking a 131% increase year-over-year [7]. - Full year 2025 results show a Consumer Loan Marketplace volume of $8.4 billion, reflecting a 63% year-over-year growth [7]. - Preliminary net revenue for Q4 2025 is estimated between $158.0 million and $162.0 million, while for the full year, it is projected between $505.0 million and $509.0 million [7][17]. - Adjusted Net Revenue for Q4 2025 is expected to be between $155.5 million and $160.5 million, and for the full year, between $512.5 million and $517.5 million [7][17]. - GAAP Net Income for Q4 2025 is projected to be between $12.5 million and $13.5 million, with full year estimates between $131.5 million and $132.5 million [7][17]. - Adjusted EBITDA for Q4 2025 is expected to be between $80.0 million and $83.0 million, while for the full year, it is projected between $249.0 million and $252.0 million [7][17]. Strategic Focus - The company aims to expand its partner network, enhance marketplace liquidity, and advance its blockchain-native infrastructure, indicating a commitment to modernizing capital markets [3][21]. - Figure's ecosystem includes various innovative components such as Figure Connect and DART, positioning it as a leader in the tokenization of real-world assets [21][22].

Core Insights - The Financial Accounting Standards Board (FASB) is expected to clarify the accounting treatment of stablecoins, potentially classifying them as cash or cash equivalents instead of intangible assets [2][4] - Macrina Kgil, a seasoned CFO, emphasizes the need for consistent accounting standards for stablecoins, reflecting her frustrations with current ambiguities [3][4] - Figure Technology Solutions, where Kgil is currently CFO, has a market value of approximately $8.7 billion and focuses on consumer loans, particularly home equity loans [5][6] Company Overview - Figure Technology Solutions was founded in 2018 and aims to create a marketplace for consumer loans, utilizing blockchain technology to enhance transparency and speed in loan processing [6] - The company has developed an interest-bearing transferable stablecoin named $YLDS, which is registered with the SEC, indicating its commitment to regulatory compliance [4] - Figure's home equity loans can be closed in as little as five days, significantly faster than the industry average of 45 days, showcasing the efficiency brought by blockchain technology [6] Industry Context - The potential reclassification of stablecoins by FASB could have significant implications for the accounting practices within the financial services industry, particularly for companies dealing with digital assets [2][4] - The ongoing evolution of accounting standards for digital currencies reflects the broader trend of integrating blockchain technology into traditional financial systems [3][4]

Core Insights - Figure Technology Solutions reported a decrease in Consumer Loan Marketplace Volume by 6% month-over-month (M/M) to $816 million in January 2026, but a significant increase of 115% year-over-year (Y/Y) compared to January 2025, which had a volume of $380 million [2] - The company has seen a 15% increase in $YLDS in Circulation, rising to $376 million from $328 million in December 2025 [2] - Matched Offers Balance increased by 23% M/M to $253 million, while Borrower Demand and Available Lender Supply also rose by 17% and 23% respectively, indicating a growing marketplace [2] Financial Performance Metrics - Consumer Loan Marketplace Volume is defined as the total U.S. dollar equivalent value of originations of HELOCs, DSCR, and personal loans, as well as third-party loans traded on Figure Connect, reflecting the company's scale and revenue potential [4] - $YLDS in Circulation represents the total U.S. dollar equivalent value of unsecured face-amount certificates backed by Figure Certificate Company, reported as an end-of-period outstanding balance [5] - Matched Offers and Borrower Demand are defined as the U.S. dollar equivalent value of offers matched between borrowers and lenders, and the value borrowers seek to borrow, respectively, both reported as end-of-period outstanding balances [6][7] Company Overview - Figure Technology Solutions is a blockchain-native capital marketplace that connects origination, funding, and secondary market activities, with over 200 partners and a total of more than $22 billion in home equity originated to date [11] - The company is recognized as a market leader in real-world asset tokenization, with its recent securitization receiving AAA ratings from S&P and Moody's, marking a significant achievement in blockchain finance [12]

Core Insights - Figure Technology Solutions plans to report its Fourth Quarter and Full Year 2025 results on February 26, 2026, after market close, followed by a conference call at 4:30 p.m. Eastern Time [1] Company Overview - Figure Technology Solutions, Inc. is a blockchain-native capital marketplace that connects origination, funding, and secondary market activity, with over 200 partners utilizing its loan origination system [3] - The company has originated over $21 billion in home equity financing, making it the largest non-bank provider in this sector [3] - Key components of Figure's ecosystem include Figure Connect, a consumer credit marketplace, and Democratized Prime, an on-chain lend-borrow marketplace [3] - Figure also utilizes DART (Digital Asset Registry Technology) for asset custody and lien perfection, and offers $YLDS, an SEC-registered yield-bearing stablecoin [3] Market Position - Figure is recognized as the market leader in real-world asset (RWA) tokenization, with its recent securitization receiving a AAA rating from S&P and Moody's, marking a significant achievement in blockchain finance [4]

Core Viewpoint - Figure Technology Solutions has taken on the responsibility of executing community directives for the Provenance Blockchain Foundation, a decision supported by the community vote on January 14, 2026, to enhance the governance and sustainability of the Provenance Blockchain ecosystem [1][3]. Group 1: Company Overview - Figure Technology Solutions is a blockchain-native capital marketplace that connects origination, funding, and secondary market activities, with over $21 billion in home equity originated to date, making it the largest non-bank provider of home equity financing [8]. - The company utilizes the Provenance Blockchain for its digital asset ecosystem, which is the largest public blockchain in the real-world asset (RWA) space [2][10]. - Figure holds approximately 25% of the outstanding HASH tokens, which are integral to the Provenance Blockchain's utility [4]. Group 2: Governance and Community Engagement - The new structure aims to strengthen the governance clarity and long-term sustainability of the Provenance Blockchain while maintaining decentralized control through on-chain governance by HASH token holders [3][6]. - Figure will provide operational, technical, and administrative resources to support the Foundation's activities, including protocol development and ecosystem initiatives [6]. - The Foundation will continue to operate independently, with governance decisions subject to on-chain approval by HASH token holders, ensuring that Figure and the Foundation abstain from voting on governance matters related to HASH [6]. Group 3: Future Initiatives - Figure plans to strengthen the tokenomics of the HASH utility token to ensure adequate compensation for protocol validators and delegators, thereby enhancing the overall ecosystem [2][4]. - The company aims to drive third-party adoption of the Provenance ecosystem and expand RWA offerings, leveraging its resources to enhance market presence [3][4].

Core Viewpoint - Figure Technology Solutions reported strong preliminary operating data for December 2025 and Q4 2025, indicating significant growth in its consumer loan marketplace and other key metrics [1][2]. Group 1: Consumer Loan Marketplace Performance - In December 2025, the Consumer Loan Marketplace volume reached $869 million, a 2% increase from November 2025 and a 134% increase year-over-year from December 2024 [2]. - For Q4 2025, the Consumer Loan Marketplace volume totaled $2.705 billion, reflecting a 10% increase from Q3 2025 and a 131% increase year-over-year from Q4 2024 [2]. Group 2: Key Metrics Growth - The $YLDS in circulation rose to $328 million in December 2025, a 198% increase from November 2025 and a significant increase of 1,462% from Q3 2025 [2]. - Matched Offers balance in the Democratized Prime platform reached $206 million in December 2025, up 442% from November 2025 [2]. - Borrower Demand surged to $246 million in December 2025, a 435% increase from November 2025 [2]. - Available Lender Supply also increased to $213 million in December 2025, a 353% rise from November 2025 [2]. Group 3: Company Overview - Figure Technology Solutions is a blockchain-native capital marketplace that connects origination, funding, and secondary market activities, with over 200 partners and more than $21 billion in home equity originated to date [10][11]. - The company is recognized as a market leader in real-world asset tokenization, with its recent securitization receiving AAA ratings from S&P and Moody's, marking a significant milestone in blockchain finance [11].

Core Insights - Figure Technology Solutions, Inc. announced the minting of $YLDS, a registered public debt security stablecoin on the Solana blockchain, designed to maintain a fixed dollar price and provide continuous yield backed by U.S. Treasuries and Treasury repo agreements [1][6] - The collaboration with Provenance Blockchain Foundation aims to enhance real-world asset applications in decentralized finance (DeFi) on Solana, allowing users to access yield from various Figure assets [2][4] - $YLDS is expected to provide significant advantages to the Solana ecosystem, including real-world utility, developer-ready composability, and institutional-grade credibility [6][7] Company Overview - Figure Technology Solutions operates a capital marketplace that connects origination, funding, and secondary market activities, with over 200 partners and more than $19 billion in home equity originated [5] - The company is recognized as a market leader in real-world asset tokenization, with its recent securitization receiving a AAA rating from S&P, marking a significant achievement in blockchain finance [7] Product Features - $YLDS is a yield-bearing stablecoin that offers immediate practical applications, already integrated with Figure's Democratized Prime product and soon with Exponent Finance's yield exchange protocol on Solana [6] - The stablecoin serves as a foundational asset for developers in the Solana DeFi ecosystem, providing a stable, yield-generating core for various applications [6] - Figure's compliance-first approach and proven operational history enhance the credibility of $YLDS, distinguishing it from speculative projects in the market [6][7]

Core Viewpoint - Figure Technology Solutions, Inc. has launched an RWA consortium to enhance access to over $1 billion in monthly on-chain loan originations, starting on the Solana blockchain, aiming to democratize access to institutional-grade yields for DeFi users [1][2][6] Group 1: RWA Consortium and Its Objectives - The RWA consortium aims to support the adoption of the PRIME token, a liquid staking token developed in partnership with Hastra and the Provenance Blockchain Foundation [1][4] - The initiative is part of Figure's strategy to bring capital markets on-chain and expand its RWA ecosystem across multiple blockchains, integrating with Layer 1 networks like Solana [2][4] - The consortium will focus on community engagement, education, and adoption through reward programs and events, including a physical debut at Solana Breakpoint [7] Group 2: Financial Metrics and Market Position - Figure has originated over $19 billion in on-chain loans to date and holds a 70% market share in the RWA private credit sector, positioning it as a leader in bridging traditional credit markets with DeFi [2][8] - The company provides access to yields generated from its $1 billion+ monthly on-chain loan originations through the Democratized Prime platform [5][8] Group 3: Partnerships and Technological Integration - Kamino Finance will act as the exclusive on-chain credit and lending partner, enhancing the utility of the PRIME token across its product offerings [5][12] - Chainlink will serve as the official oracle infrastructure for Hastra's yield products, ensuring high-integrity data and enabling cross-chain interoperability [5][12] - Other partners include Raydium for liquidity infrastructure, CASH for stablecoin support, and Gauntlet for risk management, collectively enhancing the ecosystem for RWA tokens on Solana [12]

Core Insights - Figure Technology Solutions has announced a $25 million strategic investment from Ondo Finance in its $YLDS stablecoin, enhancing the yield source for Ondo's flagship tokenized fund, OUSG [1][2] - The partnership aims to strengthen the position of $YLDS in the tokenized real-world assets market and accelerate institutional adoption of on-chain finance [3][5] Company Overview - Figure Technology Solutions operates a blockchain-based capital marketplace, having originated over $19 billion in home equity financing, making it the largest non-bank provider in this sector [4][5] - The company’s ecosystem includes various components such as Figure Connect, a consumer credit marketplace, and Democratized Prime, an on-chain lending platform [4] Product Details - $YLDS is a registered security that pays interest to holders and is backed by the same assets as GENIUS Act stablecoins, providing a unique investment opportunity [2][4] - The integration of $YLDS into OUSG's yield strategy is expected to diversify and institutionalize the ecosystem supporting Ondo's products [3] Strategic Importance - The investment from Ondo Finance is seen as a natural connection due to both companies' strong presence in tokenized Real-World Assets (RWAs) [2][3] - This collaboration is positioned to enhance Figure's expansion efforts, particularly around its DeFi platform, Democratized Prime [2][3]

Core Insights - Figure Technology Solutions has announced a $25 million strategic investment from Ondo Finance in its $YLDS stablecoin, enhancing the yield source for Ondo's flagship tokenized fund, OUSG [1][2][3] - The partnership aims to strengthen the position of $YLDS in the tokenized real-world assets market and accelerate institutional adoption of on-chain finance [3][5] Company Overview - Figure Technology Solutions operates a blockchain-based capital marketplace, having originated over $19 billion in home equity financing, making it the largest non-bank provider in this sector [4][5] - The company’s ecosystem includes various components such as Figure Connect, a consumer credit marketplace, and Democratized Prime, an on-chain lending platform [4] Product Details - $YLDS is a registered security that pays interest to holders and is backed by the same assets as GENIUS Act stablecoins, providing a unique utility in the market [2][4] - The integration of $YLDS into OUSG's yield strategy is expected to diversify and institutionalize the ecosystem supporting Ondo's products [3][4] Strategic Importance - The investment from Ondo Finance is seen as a natural connection due to both companies' strong presence in tokenized Real-World Assets (RWAs) [2][3] - This collaboration is positioned to enhance Figure's expansion efforts, particularly around its DeFi platform, Democratized Prime [2][3]