Figure Submits Second IPO for Solana Blockchain Equity

2 mins mins

Key Points:

Figure’s second IPO application aims for blockchain-based equity issuance on Solana.
Executive Chairman Mike Cagney announced the strategy at Solana Breakpoint.
The IPO bypasses traditional exchanges, utilizing Figure’s trading platform.

Figure Technology Solutions, Inc. has filed for a second IPO with the SEC to issue company equity natively on the Solana blockchain, trading on its own ATS.

The move advances blockchain-native security trading, bypassing traditional market infrastructure like Nasdaq, and enhances Solana’s position in real-world asset issuance.

Figure’s Blockchain Equity Move Amid Solana’s Rise

Figure Technology Solutions has positioned itself as a pioneer by filing its second IPO application, seeking to issue equity natively on the Solana blockchain. The initiative, announced by Executive Chairman Mike Cagney, highlights Figure’s commitment to integrating blockchain technology more deeply into capital markets.

The proposed equity offering will be managed through an Alternative Trading System owned by Figure, sidestepping conventional exchanges like Nasdaq and NYSE. This shift to a blockchain-native model enhances Figure’s strategy for decentralized trading and self-regulation, reflecting a more innovative financial infrastructure approach.

This issuance will not go through the DTCC, nor will it trade on Nasdaq or the NYSE, nor will it rely on referral brokers like Robinhood, nor will it rely on institutions like Goldman Sachs for prime brokerage services.” – Mike Cagney, Co-founder / Executive Chairman, Figure Technology Solutions, Inc.

Solana’s Growing Role in Blockchain Capital Markets

Did you know? This move by Figure marks a key moment in blockchain finance, mirroring J.P. Morgan’s earlier $50 million token issuance on Solana, demonstrating institutional trust in blockchain solutions.

As of the last update on December 13, 2025, Solana (SOL) is priced at CoinMarketCap $133.71, with a market cap of $75.13 billion, representing a 2.44% market dominance. Its 24-hour trading volume fell by 16.64% to $4.31 billion. Recent price shifts show a 3.28% decrease over the last day and a broader 45.72% decline over 90 days.

solana-daily-chart-344 — Solana(SOL), daily chart, screenshot on CoinMarketCap at 08:32 UTC on December 13, 2025. *Source: CoinMarketCap*

Insights from Coincu suggest that Figure’s move to launch equity on Solana could drive regulatory discussions on blockchain-native securities. This might accelerate adoption across the financial sector, enhancing Solana’s role as a central player in blockchain capital markets.

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