On September 17, 2024, in Singapore, Figure Markets announced the launch of its global crypto exchange, offering competitive conditions and investment opportunities.
Launch of the New Crypto Exchange
Figure Markets, a leading decentralized custody marketplace for digital assets, unveiled its new global crypto exchange based out of the Cayman Islands. One of the standout features of the new platform is the opportunity to earn up to 8% per annum on cash and stablecoin balances for users worldwide. U.S. users may also benefit from earning up to 3% per annum on USD balances held at an FDIC-insured bank.
Opportunities of the New Exchange
The new global crypto exchange is part of Figure Markets' mission to democratize finance by providing robust trading options and advanced financial products to users worldwide. The platform offers high cash leverage, decentralized custody solutions, and cross-collateralization, allowing users to control their assets and reducing the risks associated with traditional centralized exchanges. Yields on non-USD and stablecoins are derived from a fund backed by real-world assets on blockchain, with daily liquidity and automatic sweeps ensuring constant income generation for users.
Leadership Comments
CEO and Co-Founder of Figure Markets Mike Cagney stated, “We are committed to righting the wrongs of the past and providing users with the tools they need to trade, borrow, and invest while minimizing exchange risk. This global launch is a significant milestone 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.” Figure Markets President June Ou added, “We are excited to introduce this innovative feature that directly addresses the needs of our members. 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.”
The launch of the Figure Markets global crypto exchange represents a significant step towards democratizing finance and improving trading conditions for users worldwide.
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