By Ateev Bhandari and Arasu Kannagi Basil

Sept 11 (Reuters) - Figure Technology was

valued at $7.62 billion after its shares jumped 44% in their

Nasdaq debut on Thursday, adding to a run of strong first-day

performances by crypto-linked firms as the digital-assets

industry edges closer to the mainstream.

The New York-based company's stock opened at $44 per share,

compared with the offer price of $25.

Figure and some of its backers raised $787.5 million in an

upsized IPO by selling 31.5 million shares, pricing above a

previously increased range of $20 to $22 apiece.

U.S. IPOs are set to have their busiest week since 2021, as

record-high equity markets encourage a broad slate of listings

after tariff-driven volatility shut new issues in April.

As the crypto mania spurred by regulatory wins tempers down,

companies that stuck to hoarding digital assets have suffered

sharp drops in their stock price, suggesting investors continue

to look for fundamentals.

"Blockchain never loses an opportunity to shoot itself in

the foot," Figure co-founder Mike Cagney told Reuters in an

interview, adding that treasury strategies do not represent the

full potential of the technology.

Figure was co-founded in 2018 by Cagney, who previously

launched and scaled SoFi Technologies ( SOFI ).

It facilitated $6 billion in home equity lending for the

twelve months ended June 30, up 29% from a year ago.

Figure developed the Provenance blockchain to originate,

verify and process home-equity loans, positioning itself at the

intersection of housing finance and crypto.

Cagney told Reuters that 10 out of the top 20 mortgage

companies use Figure's technology to originate loans.

"There are 20 or more large banks already using Provenance,"

David Chao, general partner at DCM Ventures, an early investor

in Figure, told Reuters in an interview.

Cryptocurrency exchange Gemini, backed by the Winklevoss

twins, is also set to go public in New York on Friday.