In brief
- Figure shares closed 24% above their IPO price at $31.11 on Thursday.
- The company uses a blockchain-based platform to facilitate loans.
- Analysts foresee the IPO advancing tokenization narratives in the mainstream.
Figure Technologies shares closed above its initial offering price on Thursday, the latest indication of investors’ interest in crypto-native firms on Wall Street.
The firm’s stock price rose to $31.11, a 24% gain compared to its boosted IPO price of $25, according to Yahoo Finance. That gave it a valuation of $6.58 billion. Figure shares initially changed hands at $36 apiece.
Figure CEO Michael Tannenbaum told Decrypt that the company is showing Wall Street how blockchains can be used to create more efficient…
