Figure Markets Exchange launches with decentralized custody, offering high cash leverage, FDIC insurance, and a broad product set.
Points
- Figure Markets Exchange launches with decentralized custody powered by multi-party computation technology.
- The exchange offers high cash leverage, FDIC insurance, and a broad product set.
- Users can trade BTC, ETH, HASH, and unique assets like FTX bankruptcy claims.
- Top-tier members benefit from discounted borrow rates and other advantages.
Figure Markets Exchange has launched as a US onshore exchange, with plans to expand offshore later this year. The exchange features decentralized custody powered by multi-party computation technology, providing a secure and innovative trading platform.
Users of the Figure Markets Exchange will benefit from high cash leverage, FDIC insurance, a broad product set, and flexible deposit and withdrawal options. The exchange allows trading in popular cryptocurrencies such as BTC, ETH, and HASH, as well as unique assets
like FTX bankruptcy claims. Additionally, users can invest in and borrow against various closed-end funds, including staking and opportunistic funds.
Top-tier members of the exchange will enjoy exclusive benefits, such as being paid to trade, discounted borrow rates, and other advantages. The exchange’s CEO and co-founder, Mike Cagney, expressed excitement about bringing a best-in-class, decentralized custody exchange to the market. The aim is to level the playing field in crypto trading and avoid the pitfalls of centralized exchange bankruptcies.
Eventually, the exchange will utilize HASH ownership, the utility token from Provenance Blockchain, to determine member tiers and pay for exchange fees. This integration will further enhance the platform’s functionality and user experience.
解説
- Decentralized custody: A system where assets are held in a decentralized manner, using technologies like multi-party computation to enhance security.
- FDIC insurance: Insurance provided by the Federal Deposit Insurance Corporation, protecting deposits in US banks.
- Closed-end funds: Investment funds with a fixed number of shares, traded on the stock market.