Figure, an onchain lender, reported a sharp increase in quarterly profitability as activity on its loan marketplace climbed. The company said marketplace volume surged to $4.3 billion, according to The Block’s reporting.
Net income rose 192% to $87 million, compared with $30 million in the same period a year earlier. The increase puts quarterly profit at nearly three times the prior-year level, underscoring the scale of the company’s reported earnings growth.
Onchain lending platforms use blockchain-based infrastructure to facilitate lending and related financial activity. Figure’s results point to a period in which both marketplace volume and net income increased, with the company reporting $4.3 billion in loan marketplace volume alongside the $87 million quarterly profit figure.
