Figure's Loan Marketplace Volume Hits $4.3B as Quarterly Profit Nearly Triples
Blockchain-based lender Figure reported net income of $87 million, up 192% from $30 million a year earlier, according to The Block. Loan marketplace volume on Figure’s platform reached $4.3 billion for the period, The Block and Cointelegraph both reported.
CoinDesk reported that Figure’s revenue doubled during the same period, tying the growth to rising volumes on its loan marketplace.
Looking ahead, Cointelegraph reported that Figure expects consumer loan marketplace volume to come in between $4.8 billion and $5.2 billion in the third quarter, suggesting continued expansion from the $4.3 billion figure posted in the prior period.
The results point to accelerating activity on Figure’s blockchain-based lending infrastructure, with both profit and transaction volume climbing sharply compared with the year-ago period, according to the reporting from CoinDesk, The Block, and Cointelegraph.
Sources: CoinDesk, The Block, Cointelegraph
This article is for information only and is not financial advice.
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