Figure Markets Revolutionizes Financial Markets with $60M Series A Funding
March 20, 2024, 9:35 am
Figure Markets Inc.
Total raised: $60M
Figure Technologies Inc. has made waves in the financial world with the launch of Figure Markets Inc., backed by a whopping $60 million in Series A funding. This new venture aims to create an all-encompassing marketplace for investors to trade cryptocurrency, securities, and alternative investments using cutting-edge blockchain technology.
The funding round was spearheaded by industry giants Jump Crypto, Pantera Capital, and Lightspeed Faction, with additional support from Distributed Global, Ribbit Capital, and CMT Digital. This financial backing will fuel the development of Figure Markets, a platform built on the Provenance blockchain that will enable users to buy, sell, and trade a variety of blockchain-native assets with decentralized custody.
Figure Technologies, known for its innovative blockchain-based lending and borrowing platform, has already proven the effectiveness of its Provenance blockchain system, with over $30 billion in real-world assets recorded on the network since its inception in 2018. By leveraging multiparty computation technology, Figure Markets aims to enhance security and reduce fraud risks by requiring multiple approvals for transactions.
Unlike traditional exchanges that focus solely on cryptocurrencies like Bitcoin and Ethereum, Figure Markets is set to disrupt the market by offering investors access to a wider range of assets, including stocks and securities. By utilizing blockchain technology for transactions instead of centralized settlement, the company aims to differentiate itself from industry giants like Binance Holdings Ltd. and Coinbase Inc.
With plans to introduce a "registered security alternative" to stablecoins, Figure Markets is poised to revolutionize the digital assets space. This innovative approach has garnered praise from industry experts like Dan Morehead, Founder and Managing Partner of Pantera Capital, who believes that Figure Markets' use of MPC technology addresses critical market pain points and paves the way for a more efficient and secure future for digital assets.
Led by CEO Mike Cagney and backed by a team of industry luminaries, Figure Markets is on a mission to democratize access to financial markets and bring the benefits of blockchain technology to a broader range of assets. With its innovative approach to decentralized custody and commitment to security, Figure Markets is well-positioned to become a disruptive force in the financial world.
As Figure Markets continues to push the boundaries of traditional finance, investors and industry insiders alike are eagerly anticipating the impact of this groundbreaking platform on the future of digital assets and financial markets as a whole.
The funding round was spearheaded by industry giants Jump Crypto, Pantera Capital, and Lightspeed Faction, with additional support from Distributed Global, Ribbit Capital, and CMT Digital. This financial backing will fuel the development of Figure Markets, a platform built on the Provenance blockchain that will enable users to buy, sell, and trade a variety of blockchain-native assets with decentralized custody.
Figure Technologies, known for its innovative blockchain-based lending and borrowing platform, has already proven the effectiveness of its Provenance blockchain system, with over $30 billion in real-world assets recorded on the network since its inception in 2018. By leveraging multiparty computation technology, Figure Markets aims to enhance security and reduce fraud risks by requiring multiple approvals for transactions.
Unlike traditional exchanges that focus solely on cryptocurrencies like Bitcoin and Ethereum, Figure Markets is set to disrupt the market by offering investors access to a wider range of assets, including stocks and securities. By utilizing blockchain technology for transactions instead of centralized settlement, the company aims to differentiate itself from industry giants like Binance Holdings Ltd. and Coinbase Inc.
With plans to introduce a "registered security alternative" to stablecoins, Figure Markets is poised to revolutionize the digital assets space. This innovative approach has garnered praise from industry experts like Dan Morehead, Founder and Managing Partner of Pantera Capital, who believes that Figure Markets' use of MPC technology addresses critical market pain points and paves the way for a more efficient and secure future for digital assets.
Led by CEO Mike Cagney and backed by a team of industry luminaries, Figure Markets is on a mission to democratize access to financial markets and bring the benefits of blockchain technology to a broader range of assets. With its innovative approach to decentralized custody and commitment to security, Figure Markets is well-positioned to become a disruptive force in the financial world.
As Figure Markets continues to push the boundaries of traditional finance, investors and industry insiders alike are eagerly anticipating the impact of this groundbreaking platform on the future of digital assets and financial markets as a whole.