Figure Technology Solutions is experiencing significant growth, with loan volumes reaching $1.34 billion in April, reflecting a year-over-year increase of 108%. This marks the second month in a row that the company surpassed the $1 billion threshold. Bernstein has reaffirmed its “Outperform” rating on Figure, projecting a price target of $67, which suggests a potential upside of approximately 67% from current share prices.
The firm highlights Figure's strategic shift from a home equity lending focus to a broader blockchain-based credit platform, tapping into an estimated $4 trillion addressable market for tokenized credit. This transition includes converting loans into tradable on-chain assets that can settle in real time, expanding beyond traditional lending categories such as mortgages and auto loans.
While the tokenized credit sector is currently valued at around $5.5 billion, it remains a small portion of the overall real-world asset market. Bernstein anticipates continued growth in loan volumes, predicting that total loans will rise to $16.5 billion by 2027 from $8.4 billion in 2025. This positions Figure to capitalize on broader market trends in credit origination.