Figure Markets is launching a decentralized custody crypto exchange and a blockchain-native security marketplace that uses Multi-Party Computation (MPC) wallets to distribute private keys and require multi-party approval for movements. Its MPC approach eliminates a single point of failure, removes the need for a central custodian or clearing agent, minimizes counterparty risk, and preserves users’ control over assets. The platform will leverage the Provenance Blockchain, which has recorded over $30B in real-world assets since 2018. Under CEO Mike Cagney and June Ou, Figure Markets is developing onshore and offshore decentralized crypto and securities marketplaces and will operate independently of Figure Lending. The integrated platform plans to offer highly liquid markets, lending and borrowing options, and over time trading in equities, fixed income, crypto, and alternative investments using cross-collateralization and netting. Figure Markets is also working toward a registered security alternative to stablecoin to support its ecosystem. The company has secured funding to support product development and market launch.

Total raised

$60M

Funding rounds

1

Latest round

Series A

Latest activity

Mar 2024