Blockchain Lending Pioneer Figure Makes Debut on U.S. Stock Market, Stock Price Soars 44% Sparking Cryptocurrency Frenzy

Figure Technology Solutions’ public-market debut has arrived—and it has the crypto and traditional finance (TradFi) worlds taking notice. The blockchain-powered financial services firm listed in the U.S. last week under the ticker FIGR, with shares surging on the first day of trading—reports indicate gains of roughly 40%+—as investors bet on blockchain’s ability to modernize lending, servicing, and capital markets infrastructure. For a sector long focused on speculative tokens, Figure’s entry offers a timely reminder: the next wave of crypto adoption is being built around real-world finance.

In this article, we unpack what Figure represents for blockchain and cryptocurrency, how broader market context is amplifying the signal, and what self-custody users should prepare for as real-world asset (RWA) lending goes on-chain.

Who Is Figure—and Why Its IPO Matters

Figure Technology Solutions positions itself as a blockchain platform for core financial services—think loan origination, servicing, marketplace distribution, and securitization—aimed at making traditionally slow, intermediary-heavy workflows faster, more transparent, and lower cost. Its decision to go public underscores the maturing bridge between crypto infrastructure and institutional finance. Forbes’ coverage of the listing and business model highlights the company’s ambition to solve “real world” problems in lending and capital markets using blockchain rails, not hype cycles or meme momentum. See: Figure Technology Stock: Using Blockchain For Real World Problems? (Forbes).

For crypto-native audiences, Figure’s debut is notable for three reasons:

• It showcases a clear business case: using distributed ledgers to shorten settlement cycles, reduce reconciliation overhead, and unify data across loan lifecycles.
• It pushes RWA finance further into public markets, where transparency, reporting obligations, and institutional scrutiny can accelerate standardization.
• It sets the stage for secondary-market innovation—digitized loans, tokenized receivables, and on-chain fund interests—where capital formation and liquidity can ultimately converge.

The Broader Signal: TradFi Is Leaning Into Blockchain

Figure’s first trading day arrives amid a steady drumbeat of blockchain adoption across traditional venues. The London Stock Exchange recently ran a blockchain-based process for the first time—an operational milestone that shows major market infrastructures are willing to test and deliver distributed ledger solutions in production, not just pilots. While the specifics and scope continue to evolve, the takeaway is clear: capital markets are actively experimenting with blockchain to handle issuance, settlement, and registry functions. See: London Stock Exchange Tries Blockchain for the First Time, and Pulls It Off (TipRanks).

This institutional momentum matters. When market operators validate blockchain-based workflows, they create interoperability expectations for banks, custodians, and asset managers—paving the way for standardized tokenization frameworks and more predictable compliance pathways. That, in turn, lowers integration risk for both crypto-native protocols and traditional firms exploring on-chain issuance.

Crypto Market Context: Liquidity, Rules, and Real Use Cases

The macro backdrop is also supportive. Crypto exchanges have seen a resurgence in volumes following improved monetary and regulatory signals. Investor’s Business Daily reports that total trading volumes and average daily volumes have risen meaningfully, alongside important regulatory wins such as new exchange approvals and a New York BitLicense grant—an institutional credibility marker that encourages more compliant, regulated participation. See: Bullish Leads Crypto Exchange Rally After Fed Rate Cut, SEC Rule Change (IBD).

On the investor side, the rise of spot Bitcoin ETFs has deepened liquidity and broadened access for traditional allocators. BlackRock’s vehicle has grown into one of the most consequential ETFs globally by assets, illustrating how crypto exposure is being absorbed into mainstream portfolio construction. This is not merely a price story; it’s a distribution story—how capital enters crypto markets at scale through regulated wrappers. See: ‘Open Up The Floodgates’—A BlackRock Price Bombshell Is Suddenly Hurtling Toward Bitcoin And Crypto (Forbes).

Finally, equity markets continue to react to crypto-adjacent headlines—sometimes dramatically. The recent surge in Eightco tied to a funding announcement from a crypto miner is a reminder that crypto narratives can catalyze price action far beyond native tokens, for better or worse. These spillovers can amplify volatility and should be part of any risk-aware framework. See: What’s New With Eightco Stock? (Forbes).

Why Figure’s Debut Resonates With Crypto Builders and Users

• Real-World Assets meet real markets: Tokenized lending isn’t theoretical; it’s entering public equity discourse. That helps normalize concepts like on-chain servicing data, programmable cash flows, and digital registries for collateral.
• Compliance-first rails: Publicly listed firms operating blockchain platforms tend to prioritize regulatory alignment, KYC/AML, and auditability—cornerstones for institutional adoption of crypto infrastructure.
• Convergence of yield and transparency: As rates fluctuate, the appeal of transparent, programmatic interest flows grows. If lending exposure can be represented on-chain with verifiable servicing data, investors may gain clearer insight into underlying cash flows and risk.

Self-Custody Perspective: How OneKey Users Can Prepare

As lending and capital markets infrastructure migrates onto blockchain rails, self-custody users should get ready for a new class of on-chain assets and interactions. Practical steps:

• Understand asset structure

  • Not all tokenized assets are permissionless. Some RWAs may be restricted to accredited or KYC’d participants and may live on permissioned chains or whitelists.
  • Read offering documents, understand claim hierarchies, redemption workflows, and how defaults or servicing events are handled on-chain.

• Evaluate counterparty and smart contract risk

  • Separate protocol risk (smart contracts, oracles, upgrade keys) from off-chain risk (issuer solvency, servicer performance).
  • Prefer assets with independent audits and transparent, frequently updated reporting.

• Network and fee readiness

  • Keep sufficient native tokens for gas on supported networks you plan to use. Fee spikes can disrupt time-sensitive actions (e.g., redemptions or re-collateralization).
  • Monitor chain-specific tooling for RWA projects you engage with.

• Secure signing practices

  • Use hardware-backed self-custody for high-value or long-duration positions to mitigate phishing and malware risk.
  • Verify contract addresses from primary sources and consider allowlisting known, audited contracts within your wallet workflow.

• Liquidity planning

  • Tokenized loans and credit exposures may have limited secondary liquidity compared with major L1 tokens. Set expectations for exit timing and potential discounts.
  • If using RWA tokens as collateral, model adverse scenarios (haircuts, interest rate shifts) and avoid over-leverage.

• Documentation and tax

  • Maintain on-chain transaction records and off-chain statements. RWA income could be taxed differently than capital gains on tokens depending on jurisdiction.

These habits position self-custody users to benefit from the efficiencies of on-chain finance while staying alert to new categories of risk.

What to Watch Next

• Standardization and interoperability: Look for progress on common data schemas for tokenized credit, oracle frameworks for servicing data, and cross-chain settlement rails.
• Regulatory clarity: The same dynamics lifting spot crypto ETPs—rulemaking and supervisory comfort—could extend to tokenized debt, equity, and funds over time. See the ongoing developments in exchange approvals and ETP frameworks: IBD market coverage.
• Traditional venue experimentation: Further proofs-of-concept and live deployments from exchanges and CSDs will signal the pace of institutional integration. See the LSE’s early success: TipRanks report.
• Equity market feedback loop: Public-market reception to blockchain-native operators like Figure can influence capital availability for the next generation of crypto infrastructure and RWA platforms. See: Forbes on Figure’s IPO.
• ETF-driven inflows: Continued growth of spot Bitcoin ETFs underscores mainstream access to crypto and could catalyze adjacent products, from tokenized treasuries to credit ETPs. See: Forbes on BlackRock’s ETF scale.

Bottom Line

Figure’s strong U.S. debut is bigger than a single stock pop—it’s a signal that blockchain’s utility in lending and capital markets is entering an adopt-or-be-left-behind phase. With traditional exchanges piloting blockchain processes, crypto venues scaling under clearer rules, and ETFs pulling in mainstream capital, the rails are being laid for RWAs to live—and trade—natively on-chain.

For self-custody users, this is a call to prepare: sharpen diligence, upgrade security practices, and understand the mechanics of tokenized credit and yield. The opportunity set is growing, but so is the need for disciplined operational hygiene. If the first day of FIGR trading is any indication, the market is ready to reward blockchain that solves real problems—and that’s good news for builders and users across the crypto stack.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Always do your own research and consult a qualified professional before making financial decisions.