Figure Technology Solutions reported second-quarter Consumer Loan Marketplace volume of $4.26 billion, up 132% from a year earlier and 47% from the first quarter, as net revenue rose 113% to $225.6 million and net income climbed 192% to $87.4 million. Figure Connect accounted for $2.77 billion, or 65%, of total marketplace volume, up 262% year over year, underscoring the company’s shift toward a more capital-light model built around third-party loan activity. The company said marketplace volume includes HELOC, debt-service coverage ratio and personal loan originations through its loan origination system in addition to third-party loans originated through Figure Connect, so the total should not be read as blockchain trading volume alone. Ecosystem and technology fees rose to $72.9 million from $28.1 million, gain on loan sales increased to $57.6 million from $36.3 million, and operating income rose to $77.7 million from $27.7 million. Figure added 102 origination partners during the quarter, bringing its network to 489, while operations and processing costs fell to roughly 67 basis points of marketplace volume from 79 basis points a year earlier. Cash and cash equivalents reached $1.4 billion at June 30, loans held for sale increased 47.7% to $597 million, and adjusted EBITDA rose 126% to $119.4 million with margin expanding to 54.6%. Figure also said small and medium-sized business loan volume grew 57% from the first quarter, third-party borrowing on its Democratized Prime onchain lending marketplace reached about $170 million as of Aug. 6, and YLDS in circulation stood at $556 million at June 30 after expanding beyond Provenance to Sui. The company said its $717 million acquisition of Kiavi remains on track to close in the second half of 2026, subject to regulatory approvals and other closing conditions, and expects third-quarter Consumer Loan Marketplace volume of $4.8 billion to $5.2 billion.