Published by Jessica Weisman-Pitts
Posted on August 8, 2024
3 min readLast updated: January 29, 2026
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San Francisco, CA, August 8th, 2024, Chainwire
The one-of-a-kind exchange introduces unique features and benefits, setting a new standard in digital asset trading
Figure Markets, a decentralized custody marketplace for digital assets, has launched the Figure Markets Exchange, the foundation for the company’s ambitious vision of creating a single platform for seamless trading across a wide range of assets — the “exchange for everything.”
Initially launched as a US onshore exchange, plans are already underway for an offshore exchange later this year. Over time, the exchange will operate on a membership basis, with top-tier members benefiting from being paid to trade (vs. paying commissions), discounted borrow rates, and various other advantages.
The Figure Markets Exchange offers a suite of unique solutions and capabilities today, including:
“We are thrilled to bring a best-in-class, decentralized custody exchange to the market,” said Mike Cagney, CEO and co-founder of Figure Markets. “From allowing retail investors to participate in the SOL auction to opening up trading in FTX bankruptcy claims, we’re leveling the playing field in crypto and avoiding the mistakes of the centralized exchange bankruptcies.”
Over time, the exchange will utilize HASH ownership, the utility token from Provenance Blockchain, to determine member tiers and pay for exchange fees. Unlike most other exchanges, the intent over time is for takers on the exchange to be paid by makers to trade.
About Figure Markets
Figure Markets is democratizing finance through blockchain. They’re building the exchange for everything – a decentralized custody marketplace for crypto, stocks, bonds, credit and more. Figure Markets 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 their 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.
To learn more, please visit www.figuremarkets.com or their LinkedIn, Telegram, X, and Discord.
Director, Marketing
Paula Machado Jackler
Figure Markets
press@figuremarkets.com
Decentralized custody refers to a method of holding digital assets where the custodian does not take possession of the assets, enhancing security and reducing risks associated with bankruptcy.
FDIC insurance is a federal insurance program in the United States that protects depositors by covering their deposits in case of bank failures, up to a certain limit.
Margin trading involves borrowing funds from a broker to trade larger amounts than the trader's own capital, allowing for potentially higher profits but also increased risks.
Unique assets refer to non-traditional investment opportunities that may include items like bankruptcy claims or specialized funds, which are not typically found in standard investment portfolios.
A utility token is a type of cryptocurrency that provides users with access to a product or service within a blockchain ecosystem, often used for transaction fees or membership benefits.
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