US Stock Market Move | The blockchain lending platform Figure (FIGR.US) rose nearly 14% on its second day of trading. Yesterday, its first trading day, it closed up more than 24%.

On Friday, the blockchain lending platform Figure (FIGR.US) rose nearly 14% on its second day of listing, with yesterday's closing price up over 24% to $35.21. Figure uses blockchain technology to streamline the loan process, including home equity loan business, founded by Mike Cagney in 2018. Documents show that Figure originally offered home equity line of credit (HELOC) products, and now also offers loans based on cryptocurrency and digital asset trading platforms. The company has issued over $16 billion in loans through blockchain channels. According to company documents, for the six months ending June 30, the company's net profit was $29.1 million, with revenue of $1.906 billion; compared to a net loss of $15.6 million and revenue of $1.56 billion in the same period last year. CEO Michael Tannenbaum said, "Our business area has huge growth potential and room for development," and pointed out that home equity is as high as $35 trillion.