Figure Technology Solutions (NASDAQ:FIGR) signaled a massive acceleration in the adoption of blockchain-based lending, reporting that its consumer loan marketplace volume more than doubled in the final quarter of 2025.
The Reno-based firm, which operates the Provenance Blockchain to originate and trade private credit, posted preliminary fourth-quarter loan volume of $2.7 billion—a 131% increase over the same period last year.
The surge helped push full-year volume to $8.4 billion, reflecting the growing appetite among institutional partners for the efficiency and transparency of on-chain home equity lines of credit (HELOCs).
Financial performance followed the volume spike.
Figure expects to report full-year 2025 net revenue between $505 million and $509 million, a significant jump from 2024 levels.
More importantly for investors, the company’s capital-light marketplace model is delivering high-octane profitability.
Preliminary adjusted EBITDA for the year is projected at $249 million to $252 million, representing a robust margin of approximately 48% to 49%.
Despite the strong operational metrics, management cautioned that the figures remain preliminary and unaudited.
The company’s GAAP net income for the year is estimated at $131.5 million to $132.5 million, a figure that includes significant stock-based compensation and valuation changes in its mortgage servicing rights (MSRs).