Figure Markets, a decentralized custody marketplace for digital assets, has launched the Figure Markets Exchange, aiming to create a single platform for seamless trading across a wide range of assets.
The exchange, initially launched as a US onshore exchange, plans to expand to an offshore exchange later this year. Top-tier members will benefit from being paid to trade, discounted borrow rates, and other advantages.
The Figure Markets Exchange offers decentralized custody powered by multi-party computation technology, high cash leverage, FDIC insurance, a broad product set and deep liquidity, and flexible deposit and withdrawal options. Users can trade BTC, ETH, and HASH, as well as unique assets like FTX bankruptcy claims. They can also invest in and borrow against various closed-end funds, including staking and opportunistic funds.
The CEO and co-founder of Figure Markets, Mike Cagney, expressed his excitement to bring a best-in-class, decentralized custody exchange to the market, aiming to level the playing field in crypto and avoid the mistakes of centralized exchange bankruptcies. The exchange will eventually utilize HASH ownership, the utility token from Provenance Blockchain, to determine member tiers and pay for exchange fees.
