Asset Tokenization Firm Figure to List on Nasdaq as FIGR
Figure, a leading real-world asset tokenization company, is set to go public on the Nasdaq under the ticker “FIGR” through a SPAC merger with FinTech Acquisition Corp V. The deal values Figure at approximately $1.6 billion and is backed by a $450 million PIPE financing. Proceeds will fund the expansion of Figure’s Provenance blockchain platform, which facilitates tokenized home equity lines of credit, lending and other real-world assets. Founded in 2018 by Mike Cagney, Figure aims to streamline traditional finance processes using blockchain technology. The Nasdaq listing marks a milestone for the asset tokenization sector, offering investors direct exposure to real-world assets via digital securities.
Neutral
Figure’s public listing via SPAC underscores growing institutional interest in real-world asset tokenization but is unlikely to cause significant short-term price swings in major cryptocurrencies. While it highlights blockchain’s maturation and could spur gradual sector growth, historical precedents (for example, other fintech SPAC listings) suggest minimal immediate market volatility. Long term, the listing may support bullish sentiment around digital securities infrastructure but won’t directly drive crypto prices.