Figure Markets Launches Exchange with Decentralized Custody and Prime Brokerage

San Francisco, CA, August 8, 2024, Chainwire

The unique exchange has introduced exclusive features and benefits, setting new standards in digital asset trading.

Figure Markets, a decentralized custody marketplace for digital assets, has launched the Figure Markets Exchange, the cornerstone of the company’s ambitious vision to build a single platform where a wide range of assets can be traded seamlessly – an “exchange for everything.”

It will initially launch as an onshore US exchange, but plans are already underway for an offshore exchange later this year. Over time the exchange will become a member-only exchange, with top members receiving rewards for trading (rather than paying fees), discounts on borrowing rates, and a range of other perks.

Figure Markets Exchange currently offers the following unique solutions and features:

Decentralized Custody Leveraging Multi-Party Computing Technology. Leveraging decentralized multi-party computing (MPC) wallet custody, the exchange does not own members' assets and provides a bankruptcy-free custody solution. High Cash Leverage. Eligible members can borrow at margins of up to 4:1 (80% loan-to-value) to trade BTC and ETH. One-year term loans are also available at competitive rates. FDIC Insurance. Onshore members' USD deposits are stored in FDIC-insured banks. Broad Set of Products and Deep Liquidity. Members can trade BTC, ETH, and HASH, as well as proprietary assets such as FTX Bankruptcy Bonds. Eligible members can also invest in and borrow from a variety of closed-end funds, including staking and opportunistic funds. Flexible Deposit and Withdrawal Options. All members can transfer crypto assets to and from their Figure Markets accounts. US customers can also deposit and withdraw USD stored in one or more FDIC-insured omnibus bank accounts.

“We're excited to bring a best-in-class decentralized custodial exchange to the market,” said Mike Cagney, CEO and co-founder of Figure Markets. “From allowing retail investors to participate in SOL auctions to opening up trading for FTX bankruptcy filings, we're leveling the crypto playing field and avoiding the mistakes of centralized exchanges going bankrupt.”

Going forward, the exchange will utilize ownership of HASH, Provenance Blockchain’s utility token, to determine membership tier and pay exchange fees. Unlike most other exchanges, the exchange’s takers will be compensated for their transactions from makers in the long run.

About Figure Market

Figure Markets is democratizing finance through blockchain. The company is building an exchange for everything; a decentralized custodial marketplace for cryptocurrencies, stocks, bonds, credit, and more. Figure Markets brings best-in-class leverage, margin, and liquidity to the exchange, providing members with a wide range of borrowing options and unique investment opportunities. Figure Markets gives members control over their assets and data without the need for traditional brokers, exchanges, or lenders.

Figure Markets is backed by leading venture capital firms and strategic partners including Jump Crypto, Pantera, Distributed Global, Faction Lightspeed, NewForm Capital and CMT Digital. Figure Markets was founded by a team of experienced entrepreneurs and operators in TradFi, Fintech and DeFi, including Mike Cagney and June Ou.

For more information, visit www.figuremarkets.com or follow us on LinkedIn, Telegram, X or Discord.

contact

Marketing Director
Paula Machado Jackler
Figure Market
(email address protected)