Figure Markets Unveils Global Launch and 8% Yield Opportunity

Singapore, Singapore, September 18th, 2024

A new global crypto exchange has emerged, offering competitive leverage and attractive yield-earning opportunities, including up to 8% on cash and stablecoin balances.

Figure Markets, a prominent decentralized custody marketplace for digital assets, has launched its global crypto exchange from the Cayman Islands, featuring an array of innovative services. A key highlight is the introduction of a yield sweep for eligible users, allowing earnings of up to 8% annualized on cash and stablecoin holdings. Additionally, U.S. users can earn up to 3% annualized on USD balances stored in FDIC-insured accounts.

Following its successful U.S. launch in August, the Cayman-licensed exchange aligns with Figure Markets’ mission to democratize finance, providing robust trading options and advanced financial products to users globally. The platform enhances the trading experience through high cash leverage, decentralized custody solutions, and cross-collateralization, allowing users to maintain control over their assets and minimizing risks common to traditional centralized exchanges.

“We’re committed to rectifying past issues and delivering the necessary tools for users to trade, borrow, and invest responsibly,” stated Mike Cagney, CEO and Co-Founder of Figure Markets. “This global initiative is a significant step towards addressing the challenges of centralized exchanges and creating a fair trading environment. Our goal is to build a financial ecosystem that empowers everyone to become an owner.”

The cash yields on non-USD and stablecoin balances stem from an innovative fund backed by real-world assets on the blockchain, which provides daily liquidity and automatic sweeps to maximize returns on user funds.

“We are thrilled to launch this feature that directly addresses our members’ needs,” remarked June Ou, President of Figure Markets. “By enabling high returns on idle cash while reducing trading friction, we empower our traders to maximize their capital and improve their overall trading experiences.”

In addition to the attractive yield offerings, the exchange offers qualified members up to 5:1 margin. Users can seamlessly cross-collateralize their positions—for instance, utilizing BTC balances to purchase ETH. This will be further enhanced by upcoming offers featuring greater and expanded leverage, including a diverse range of perpetual contracts covering cryptocurrencies, commodities, foreign exchange, and equities by the end of the year.

About Figure Markets

Figure Markets is transforming finance through blockchain technology. The company is developing a comprehensive exchange for crypto, stocks, bonds, credit, and more, aiming to provide best-in-class leverage, margining, and liquidity. By giving users control over their assets and data, Figure Markets seeks to eliminate the need for traditional brokers, exchanges, and lenders.

Backed by notable venture capital firms and strategic partners, Figure Markets was founded by an experienced team with backgrounds in traditional finance, fintech, and decentralized finance, including Mike Cagney and June Ou.