Singapore, Singapore, September 18th, 2024,
Chainwire
New global crypto exchange offers competitive leverage and
yield-earning cash sweeps, offering users up to 8% on cash and
stablecoin balances.
Figure Markets, a leading decentralized custody marketplace for
digital assets, today unveiled its global crypto exchange based out
of the Cayman Islands, offering a wide array of new features and
yield-earning opportunities. One of the standout offerings is a new
yield sweep for eligible global users on cash and stablecoin
balances with rates up to 8% annualized. U.S. users may also
benefit from earning up to 3% annualized on USD balances held at an
FDIC-insured bank.
Following its U.S. launch in August, the launch of the
Cayman-licensed global crypto exchange is part of Figure Markets’
ongoing mission to democratize finance by providing robust trading
options and advanced financial products to users worldwide. The
global platform is designed to enhance the trading experience by
offering a high cash leverage and a decentralized custody solution
and cross-collateralization that keeps users in control of their
assets, reducing the risks associated with traditional centralized
exchanges.
“We’re committed to righting the wrongs of the past and
providing users with the tools they need to trade, borrow, and
invest on the platform while minimizing exchange risk,” said Mike
Cagney, CEO and Co-Founder of Figure Markets. “This global
expansion is a major milestone for us in addressing the issues
caused by centralized exchanges and leveling the playing field for
all traders. We are building a financial ecosystem where everyone
has the opportunity to be an owner.”
Cash yields on non-USD and stablecoin balances are derived from
an innovative fund backed by real-world assets on blockchain. The
fund operates with daily liquidity and automatic sweeps to ensure
user funds are always working to generate returns.
“We are excited to introduce this innovative feature that
directly addresses the needs of our members,” said June Ou,
President of Figure Markets. “By offering the ability to earn high
returns on idle cash while mitigating trading friction, we are
empowering our traders to optimize their capital and enhance their
overall trading experience.”
Along with the new yield offering, the exchange is also offering
qualified members up to 5:1 margin. Exchange members can
cross-collateralize their positions seamlessly - using BTC balances
to buy ETH, for example. This will be complemented by upcoming
higher and expanded leverage offerings, including a broad set of
perpetuals covering crypto, commodities, FX and equities by
year-end.
About Figure Markets
Figure Markets is democratizing finance through blockchain.
Figure Markets is building the exchange for everything - a
decentralized custody marketplace for crypto, stocks, bonds, credit
and more. The company is bringing best-in-class leverage,
margining, and liquidity to our exchange, while offering our
members extensive borrowing options and unique investment
opportunities. Figure Markets puts its members in control of their
assets and data, disintermediating legacy brokers, exchanges and
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 seasoned team of entrepreneurs and
operators from TradFi, fintech, and DeFi, including Mike Cagney and
June Ou.
Learn more at www.figuremarkets.com.
Contact information
Paula Machado Jackler
Director, Marketing
Figure Markets
press@figuremarkets.com
Contact
Paula
Jackler
pjackler@figuremarkets.com