Figure Markets Launches Exchange with Decentralized Custody and Democratized Prime Brokerage

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As a seasoned financial analyst with over two decades of experience in traditional finance and fintech, I can confidently say that Figure Markets’ launch of their Exchange for Everything is a game-changer in the digital asset trading landscape.

San Francisco, CA, August 8th, 2024, Chainwire

Based on my years of experience in the financial industry, I can confidently say that the one-of-a-kind exchange stands out from the rest with its innovative features and benefits. Having seen countless platforms come and go, this one truly sets a new standard for digital asset trading. As someone who has been through the ups and downs of the market, I appreciate a platform that offers something fresh and promising. The unique advantages it provides are not only intriguing but also necessary in today’s fast-paced and ever-evolving world of finance.

As a researcher, I’m excited to announce that we, at Figure Markets, have unveiled our decentralized custody marketplace for digital assets – the Figure Markets Exchange. This groundbreaking platform serves as the cornerstone for our visionary goal of constructing a universal trading hub, encompassing a diverse array of assets, aptly named the “exchange for everything.”

First introduced as a domestic U.S. trading platform, there are preparations being made for an overseas version coming up later in the year. Eventually, this exchange will function based on membership, offering top-tier members unique perks such as earning money from trades instead of paying commissions, lower borrowing rates at a discount, and numerous additional advantages.

The Figure Markets Exchange offers a suite of unique solutions and capabilities today, including:

    Decentralized custody powered by multi-party computation technology. Leveraging decentralized multi-party computation (MPC) wallet custody, the exchange does not take possession of members’ assets and offers a bankruptcy-remote custody solution.
    High cash leverage. Qualified members can borrow on margin 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 held at an FDIC-insured bank. 
    Broad product set and deep liquidity. Members can trade BTC, ETH, and HASH, along with unique assets such as FTX bankruptcy claims. Qualified members can also invest in and borrow against various closed-end funds, including staking and opportunistic funds.
    Flexible deposit and withdrawal options. All members can transfer crypto to and from their Figure Markets accounts. US customers can also deposit and withdraw USD, which is held in one or more FDIC-insured omnibus bank accounts.

“Mike Cagney, CEO and co-founder of Figure Markets, expressed excitement about introducing a top-tier, decentralized platform for asset exchange. He emphasized that this innovation will enable retail investors to take part in SOL auctions and even trade FTX bankruptcy claims. By doing so, we’re ensuring fairness in the crypto market and learning from past mistakes made by centralized exchanges during bankruptcies.”

As time goes by, this platform will make use of HASH tokens, which are utility tokens from the Provenance Blockchain, to assess membership levels and cover exchange charges. In contrast to many other platforms, the ultimate aim here is for traders who take positions (takers) to be compensated by those who create them (makers), when trades are made.

About Figure Markets

Figure Markets is making finance more accessible for all by utilizing blockchain technology. They’re developing an all-encompassing exchange, a decentralized custody marketplace that includes cryptocurrencies, stocks, bonds, credit, and other assets. Figure Markets aims to provide top-tier leverage, margining, and liquidity on their platform, as well as offering members various borrowing options and exclusive investment opportunities. By putting the power in the hands of their members, they bypass traditional brokers, exchanges, and lenders when it comes to asset management and data control.

Figure Markets is supported by prominent venture capital investors and strategic allies such as Jump Crypto, Pantera, Distributed Global, Faction Lightspeed, NewForm Capital, and CMT Digital. This company was established by an experienced group of entrepreneurs and professionals from Traditional Finance (TradFi), fintech, and Decentralized Finance (DeFi), with Mike Cagney and June Ou among them.

To learn more, please visit www.figuremarkets.com or their LinkedIn, Telegram, X, and Discord.

Contact

Director, Marketing
Paula Machado Jackler
Figure Markets
press@figuremarkets.com

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2024-08-08 14:30