Singapore, Singapore, September 18, 2024, Chainwire
A new global cryptocurrency exchange offers competitive leverage and profitable cash sweeps, offering users up to 8% interest on their cash and stablecoin balances.
Figure Markets, the leading decentralized custody marketplace for digital assets, today announced the launch of a global cryptocurrency exchange based in the Cayman Islands, offering a range of new features and yield opportunities. One of the most notable products is a new yield sweep for eligible global users on cash and stablecoin balances with up to 8% APY. US users can also earn up to 3% APY on USD balances held in FDIC-insured banks.
Launched in the United States in August, the launch of a Cayman-licensed global cryptocurrency exchange is part of Figure Markets’ ongoing mission to democratize finance by providing powerful trading options and advanced financial products to users around the world. The global platform is designed to enhance the trading experience by offering high cash leverage, decentralized custody solutions, and cross-collateralization that gives users control over their assets, while reducing the risks associated with traditional centralized exchanges.
“We are committed to correcting past mistakes and providing users with the tools they need to trade, lend and invest on our platform while minimizing currency risk,” said Mike Cagney, CEO and co-founder of Figure Markets. “This global expansion is a major milestone in solving the problems caused by centralized exchanges and leveling the playing field for all traders. We are building a financial ecosystem that gives everyone the opportunity to become an owner.”
Cash yields on non-USD and stablecoin balances are derived from an innovative fund backed by real assets on the blockchain. The fund operates with daily liquidity and automatic sweeps to ensure that user funds always generate yield.
“We are excited to introduce this innovative feature that directly addresses the needs of our members,” said June Ou, President of Figure Markets. “By providing the ability to generate high returns on idle cash while reducing trading friction, we are empowering traders to optimize their capital and enhance their overall trading experience.”
Along with the new yield offering, the exchange is offering up to 5:1 margin to qualified members. Exchange members can seamlessly cross-collateralize positions, such as buying ETH using their BTC balance. This will be complemented by an upcoming higher and expanded leverage offering, including a wide range of perpetual bonds, including cryptocurrencies, commodities, forex, and equities, by the end of the year.
About Figure Markets
Figure Markets is democratizing finance through blockchain. Figure Markets is building an exchange for everything. A decentralized custody marketplace for cryptocurrencies, stocks, bonds, credits, and more. The company offers its members a wide range of borrowing options and unique investment opportunities, while providing best-in-class leverage, margin, and liquidity on the exchange. Figure Markets disintermediates traditional brokers, exchanges, and lenders by giving its members control over their assets and data.
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 team of seasoned entrepreneurs and operators from TradFi, FinTech, and DeFi, including Mike Cagney and June Ou.
For more information, please visit www.figuremarkets.com.
Contact Information
Paula Machado Jackler
Marketing Director
picture market
(email protected)
Contact
Paula Jackler
(email protected)