Singapore, Singapore, September 18th, 2024, Chainwire
The 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 in the Cayman Islands. The exchange offers 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 annualized rates of up to 8%. U.S. users may also benefit from earning up to 3% annually 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 high cash leverage, 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 can be an owner.”
Cash yields on non-USD and stablecoin balances are derived from an innovative fund backed by real-world assets on the blockchain. The fund operates with daily liquidity and automatic sweeps to ensure user funds are constantly 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 also offers qualified members up to 5:1 margin. For example, exchange members can cross-collateralize their positions seamlessly - using BTC balances to buy ETH. By year-end, this will be complemented by upcoming higher and expanded leverage offerings, including a broad set of perpetuals covering crypto, commodities, FX and equities.
About Figure Markets
Figure Markets is democratizing finance through blockchain. It 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. It was founded by a seasoned team of entrepreneurs and operators from TradFi, fintech, and DeFi, including Mike Cagney and June Ou.
Visit their website to learn more.
Press Contact
Paula Machado Jackler
Director, Marketing
Figure Markets
