Figure Markets, a leading decentralized custody marketplace for digital assets, has unveiled its global crypto exchange based in the Cayman Islands. The exchange offers high yield opportunities of up to 8% annualized on cash and stablecoin balances for users globally.
New High-Yield Crypto Exchange
One of the key features of the new exchange is the ability for users to earn up to 8% annualized on cash and stablecoin balances. U.S. users can also benefit from earning up to 3% annualized on USD balances held at an FDIC-insured bank.
Benefits for Users
The platform aims to enhance the trading experience by offering high leverage, decentralized custody, and cross-collateralization options, allowing users to maintain control over their assets and reduce risks associated with traditional centralized exchanges. According to Mike Cagney, CEO and Co-Founder of Figure Markets, the company is committed to correcting past mistakes and providing users with the tools they need to trade, borrow, and invest on the platform with minimal risk.
Feature Expansion and Future Plans
Along with the new yield feature, the exchange is also offering qualified users the ability to use up to 5:1 margin. Exchange members can seamlessly cross-collateralize their positions, such as using BTC balances to buy ETH. The company's plans for the end of the year include expanding leverage offerings to cover cryptocurrencies, commodities, forex, and equities.
Figure Markets continues to democratize finance through blockchain by creating a decentralized platform for trading cryptocurrencies, stocks, bonds, and other assets, simplifying borrowing and investing processes for its users.
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