Singapore, Singapore, September 18th, 2024, Chainwire
The brand new international crypto change gives aggressive leverage and yield-earning money sweeps, providing customers as much as 8% on money and stablecoin balances.
Figure Markets, a number one decentralized custody market for digital property, at present unveiled its international crypto change based mostly within the Cayman Islands. The change gives a big selection of latest options and yield-earning alternatives. One of many standout choices is a brand new yield sweep for eligible international customers on money and stablecoin balances with annualized charges of as much as 8%. U.S. customers might also profit from incomes as much as 3% yearly on USD balances held at an FDIC-insured financial institution.
Following its U.S. launch in August, the launch of the Cayman-licensed international crypto change is a part of Figure Markets’ ongoing mission to democratize finance by offering sturdy buying and selling choices and superior monetary merchandise to customers worldwide. The worldwide platform is designed to reinforce the buying and selling expertise by providing excessive money leverage, a decentralized custody answer, and cross-collateralization that retains customers answerable for their property, lowering the dangers related to conventional centralized exchanges.
“We’re committed to righting the wrongs of the past and providing users with the tools they need to trade, borrow, and invest on the platform while minimizing exchange risk,” stated Mike Cagney, CEO and Co-Founding father of Figure Markets. “This global expansion is a major milestone for us in addressing the issues caused by centralized exchanges and leveling the playing field for all traders. We are building a financial ecosystem where everyone can be an owner.”
Money yields on non-USD and stablecoin balances are derived from an revolutionary fund backed by real-world property on the blockchain. The fund operates with every day liquidity and computerized sweeps to make sure person funds are continuously working to generate returns.
“We are excited to introduce this innovative feature that directly addresses the needs of our members,” stated 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 enhance their overall trading experience.”
Together with the brand new yield providing, the change additionally gives certified members as much as 5:1 margin. For instance, change members can cross-collateralize their positions seamlessly – utilizing BTC balances to purchase ETH. By year-end, this will probably be complemented by upcoming increased and expanded leverage choices, together with a broad set of perpetuals protecting crypto, commodities, FX and equities.
About Figure Markets
Figure Markets is democratizing finance via blockchain. It’s constructing the change for all the things—a decentralized custody market for crypto, shares, bonds, credit score, and extra. The corporate is bringing best-in-class leverage, margining, and liquidity to our change whereas providing our members intensive borrowing choices and distinctive funding alternatives. Figure Markets places its members answerable for their property and information, disintermediating legacy brokers, exchanges, and lenders.
Figure Markets is backed by main enterprise capital companies and strategic companions, together with Bounce Crypto, Pantera, Distributed Global, Faction Lightspeed, NewForm Capital, and CMT Digital. It was based by a seasoned group of entrepreneurs and operators from TradFi, fintech, and DeFi, together with Mike Cagney and June Ou.
Visit their website to study extra.
Paula Machado Jackler
Director, Advertising and marketing
Figure Markets
press@figuremarkets.com
