Finance News
By Sydney TheCMO
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Blockchain Lending Gains Real Traction. Figure's whole pitch revolves around tokenization. They're not just talking about putting loans on…
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What Tokenization Actually Does Here. So what does blockchain do for a lending business? Figure's model uses Provenance Blockchain,…
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Crypto Investors Watching Closely. Figure's growth matters beyond just one company's stock price.
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Figure Technologies just doubled its loan volumes. Year-over-year growth came in at 113%, pushing the total to $2.9 billion in the first quarter.
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The firm kept its $67 price target on Figure, which means they're betting on a 72% upside from current levels.
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The tokenization angle isn't new for Figure, but the scale is. Reaching $2.9 billion in quarterly loan originations puts them in a different weight class than most crypto-native…
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Bernstein's analysts didn't spell out every detail of their model, but the 72% upside projection ties directly to how fast Figure can keep growing that loan book.
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The efficiency gains are real. Faster settlement means Figure can turn loans into cash quicker, which means they can lend more with the same capital base.
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More context: US banks rally ceos against stablecoin yields ahead of may 14 vote
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But there's risk. Tokenized lending is still pretty niche. If the secondary market for these on-chain securities doesn't grow, Figure could end up holding more loans on its…
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Figure's growth matters beyond just one company's stock price. It's one of the clearest tests of whether blockchain infrastructure can actually scale in traditional finance.
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The company's been around since 2018, founded by Mike Cagney, who also started SoFi. It's raised over $1 billion in venture funding and has backing from big names in both crypto…
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Bernstein's $67 target assumes Figure keeps executing. If tokenization really does lower costs and open up new capital sources, the upside could be even bigger than 72%.
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Related: Crypto Lobbying Dollars Face Voter Backlash Ahead of 2026 Midterms
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The loan volume number is hard to argue with, though. Doubling year-over-year in a tough lending environment is impressive.
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