- Figure Markets launched a global crypto exchange based in the Cayman Islands, offering yield-earning cash sweeps with rates up to 8% annualized on cash and stablecoin balances for eligible global users.
- The platform features decentralized custody solutions and cross-collateralization capabilities, allowing users to maintain control of their assets while reducing risks associated with traditional centralized exchanges.
- Qualified members can access up to 5:1 margin and cross-collateralize positions seamlessly, with plans to expand leverage offerings and introduce perpetuals for crypto, commodities, FX and equities by year-end.
- Cash yields are generated through an innovative fund backed by real-world assets on blockchain, operating with daily liquidity and automatic sweeps to ensure user funds continuously generate returns.
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
Contact
Paula Jackler
pjackler@figuremarkets.com
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