Figure's stock surged 24% on its first day of trading, reaching a market capitalization of $6.585 billion.

BlockBeats News, September 12th: The blockchain-based lending platform Figure Technologies saw a 24% increase on its first day of trading, with a market value of $6.585 billion.

Figure Technology Solutions (FTS) was founded by Mike Cagney, co-founder and former CEO of SoFi. Unlike traditional financial institutions, Figure adopted a blockchain-native approach from its inception, using blockchain to reshape the financial landscape of home loans and crypto-backed loans.