**[Figure's Strong Stock Performance on First Day of U.S. Listing, Closing Up 24%]**
Blockchain lending institution Figure Technology Solutions Inc. completed a $787.5 million initial public offering (IPO) on Nasdaq. On its first trading day, the stock price surged over 44% at one point after opening and ultimately closed up 24% at $31.11, significantly higher than the $25 per share offering price. The company specializes in providing loan services using blockchain technology and achieved a net profit of $29.1 million and revenue of $190.6 million in the first half of this year. This IPO attracted over 25 times subscription, with retail investors receiving substantial allocations. Figure, founded by former SoFi CEO Mike Cagney, has issued over $16 billion in loans through blockchain technology to date.
