Figure Q2 revenue more than doubles on strong blockchain lending

Figure’s second-quarter revenue more than doubled from a year earlier to $226 million, while net income jumped 192% to $87 million, driven by rapid growth in its blockchain-based lending marketplace. Consumer loan volume rose 132% year over year to $4.3 billion in the second quarter, with Figure Connect, which links capital providers and loan originators, accounting for about 65% of the total. CEO Michael Tannenbaum said weekly loan applications topped $1 billion in July. Issuance of the yield-bearing stablecoin YLDS also increased sharply to $556 million, while the company’s acquisition of real estate lender Kiavi is proceeding smoothly with completion targeted for the second half of 2026.