Figure Files Second IPO to List Stock on Solana

Figure seeks SEC approval again, aiming to be the first firm to list stock directly on the Solana blockchain.

Aurelien Sage December 12, 2025 - 5:00 PM

Blockchain News

Figure submits second IPO filing with SEC
Plans to list stock directly on Solana blockchain
Move could set a precedent for blockchain-based equities

Figure Technologies, a fintech firm leveraging blockchain, has filed a second Initial Public Offering (IPO) request with the U.S. Securities and Exchange Commission (SEC). This time, the company has a bold new goal — it aims to become the first company to issue its stock directly on the Solana blockchain.

This filing marks a significant shift from traditional equity offerings and signals how blockchain could soon become a foundational layer for the public markets. Figure had previously submitted an IPO request in 2023, but this new filing highlights a novel approach, potentially revolutionizing how stocks are traded and recorded.

Solana to Power a New Kind of Stock Market

What makes this IPO special is not just the company involved — it’s how they plan to do it. Rather than using traditional Wall Street infrastructure, Figure wants to leverage Solana, a high-speed, low-cost blockchain network.

Solana is well-known in the crypto world for its scalability and efficiency. By issuing stock on-chain, Figure aims to reduce settlement times, cut down on middlemen, and increase transparency in equity markets. If approved, this IPO could set the stage for a new era where blockchain becomes the backbone of the stock market.

🔥 JUST IN: Figure has filed a second IPO request with the SEC, aiming to become the first company to issue its stock directly on Solana. pic.twitter.com/bkM8JbibkZ
— Cointelegraph (@Cointelegraph) December 12, 2025

A Regulatory Milestone in the Making

The SEC’s response will be closely watched by both crypto advocates and financial institutions. If the IPO is approved, it could be a milestone for blockchain adoption in traditional finance. It would also mark Solana’s entrance into the regulated equities space, giving it an edge over other blockchains in the race for real-world asset tokenization.

For investors, this development could mean faster trade settlements and greater accessibility. For the industry, it may open the doors to a wave of Figure Solana IPO copycats looking to follow in their footsteps.

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