Singapore, Singapore, September 18, 2024, Chainwire
A new global cryptocurrency exchange offers competitive leverage and yield-generating cash sweeps, offering users up to 8% on cash and stablecoin balances.
Figure Markets, a leading decentralized digital asset custody marketplace, today launched its Cayman Islands-based global cryptocurrency exchange offering a wide range of new features and yield-earning opportunities. One of the standout offerings is a new yield sweep for eligible global users on cash and stablecoin balances with rates of up to 8% annualized. US users can also benefit from earning up to 3% annualized on USD balances held at an FDIC-insured bank.
Following its US launch in August, the launch of the Cayman Islands-licensed global cryptocurrency exchange platform is part of Figure Markets’ ongoing mission to democratize finance by providing robust 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 and a decentralized custody and cross-collateralization solution that keeps users in control of their assets, reducing the risks associated with traditional centralized exchanges.
“We are committed to righting past wrongs and giving users the tools they need to trade, borrow, and invest on the platform while minimizing currency risk,” said Mike Cagney, CEO and co-founder of Figure Markets. “This global expansion is an important milestone for us in addressing the problems caused by centralized exchanges and leveling the playing field for all traders. We are building a financial ecosystem where everyone has the opportunity to own.”
Cash returns on non-USD currency balances and stablecoins are derived from an innovative fund backed by real-world assets on the blockchain. The fund operates with daily liquidity and automatic sweeps to ensure that user funds are always working to generate returns.
“We are excited to introduce this innovative feature that directly addresses the needs of our members,” said June Ou, President of Figure Markets. “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 improve their overall trading experience.”
Alongside the new yield offering, the exchange is also offering qualified members a margin of up to 5:1. Exchange members can seamlessly cross-collateralize their positions, for example by using BTC balances to buy ETH. This will be complemented by upcoming higher and expanded leverage offerings, including a broad set of perpetuals covering cryptocurrencies, commodities, currencies, and stocks by the end of the year.
About Figure Markets
Figure Markets is democratising finance through blockchain technology. Figure Markets is building an exchange for everything – a decentralised custodial market for cryptocurrencies, stocks, bonds, credit and more. The company is bringing world-class leverage, margin and liquidity to our exchange, while also offering our members extensive lending options and unique investment opportunities. Figure Markets puts its members in control of their assets and data, removing the intermediation of traditional 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 an experienced team of TradFi, fintech, and DeFi entrepreneurs and operators including Mike Cagney and June Ou.
Learn more at www.figuremarkets.com.
contact information
Paula Machado Jackler
Marketing Director
Figure Markets
ContactPaula Jackler[email protected]
This article was originally published on Chainwire
