Figure’s Wall Street debut isn’t just another crypto IPO.

Figure Technologies just proved that blockchain can actually fix broken parts of the financial system, and make money doing it. [RELEASE] At a $7.6B valuation and 18x revenue multiple, Figure now trades in line with Coinbase and Robinhood. That tells us two things:

  • Public markets are ready to treat blockchain rails as investable financial infrastructure, not speculative tech.

  • Tokenised credit markets are moving from pilot → scale, with Figure capturing 74% of tokenised private credit on-chain.

Why it matters: Figure’s $787M IPO is the first major proof that blockchain works best when it makes existing systems better, not when it tries to replace everything.

👉 Get your ad spots now and reach 35k+ digital asset leaders

Subscribe now Figure Stock Surges In Nasdaq Debut After $787 Million IPO

The State of RWAs

The current state of real-world asset tokenisation (RWAs) is dominated by Private Credit, which contributes to more than 50% of the total asset value of $30.24B.

The tokenised private credit has a total loan value of $16.98B, out of which 74% ($12.49B) of loans are being originated on Figure.