Figure Technology Solutions is a fintech firm that focuses on the transformation of financial services using blockchain technology. The company has confidentially filed for an Initial Public Offering (IPO) at the US Securities and Exchange Commission. It joins a list growing crypto-related firms preparing to break into traditional financial markets.
Figure Technology filed a confidential IPO with the SEC in relation to the equity securities it expects to offer by 2025. announced Monday is a holiday.
Market conditions and SEC review are still determining the number of shares to be issued and their price. This IPO was filed under a newly-enacted SEC clause which allows confidential filings ahead of a public final offering.
Crypto-IPOs gain momentum
The crypto market is attracting traditional investors with more cryptocurrency firms filing traditional IPOs. This shows a convergence between digital and traditional markets.
Participating on public markets provides crypto companies such as Figure with more opportunities to raise funds through public stock offerings Michael Saylor’s Strategy, for example, employs similar strategies.
Related: Apple should buy Bitcoin,’ Saylor says, as share buyback disappoints
Figure’s blockchain-based products include lending and tokenization of real-world assets. The Provenance Blockchain is a public proof-of-stake blockchain, built by Figure, in 2018. “address issues of data control for use specifically in financial services.”
The Figure surpassed In March 2024 it expects to have $30 billion worth of onchain securities and loans. This comes three days after the company announced that it had raised $60 million in Series A funding for Figure Markets. It was its first step towards building what they call their “digital economy”. “everything exchange” The firm offers tokenized securities and crypto as well announced The 18th of March 2024.
Related: Blockchain Group adds $68M in Bitcoin to corporate treasury
Circle’s success of $6.9 Billion may be the start of a crypto IPO season in 2025
Circle (USDC) is the issuer and second largest stablecoin in the USDC market.USDC), debuted on the New York Stock Exchange After increasing the size of its IPO from $1.05 to $2.05 billion, it was announced on June 5.
Circle’s successful story may lead to a renewed interest in the company crypto IPO season In 2025, more companies will be tempted to go public. Circle’s IPO valuation gave it a value of $6.9 billion based 220,000,000 outstanding shares on June 2.
Crypto-focused asset manager company Grayscale submitted a Cointelegraph published a report on July 14 about a confidential IPO filed with the SEC.
Bullish, a crypto exchange and media firm, also intends to raise $629 millions through an IPO. $4.2 billion valuationCointelegraph has reported that on Tuesday.
Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight
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Source: cointelegraph.com
