March 18, 2024
Figure Technologies has launched Figure Markets, a platform designed to facilitate the trading of various blockchain-native assets, including crypto, stocks, and alternative investments. This launch marks the company's initial step towards creating a comprehensive marketplace for investors.
Project | Latest Raise | Latest Raise | Stage | Total Raise | Category |
|---|---|---|---|---|---|
Figure Markets | March 18, 2024 | $60M | Series A | $60M | DeFi |
Figure Markets has successfully secured over $60 million in a Series A funding round. The funding round was led by Jump Crypto, Pantera Capital, and Lightspeed Faction, with additional participation from Distributed Global, Ribbit Capital, and CMT Digital. As part of the funding round, Dan Morehead, Founder and Managing Partner of Pantera Capital, will join the Figure Markets board of directors.
Figure Markets will introduce a new decentralized custody crypto exchange and blockchain-native security marketplace that incorporates Multi-Party Computation (MPC) technology. MPC-based wallets distribute private keys across a decentralized network, requiring multi-party approval for each transaction. This reduces the single-point-of-failure risks associated with centralized exchanges and eliminates the need for a central custodian or clearing agent. This approach minimizes counterparty risk and ensures users maintain control over their assets.
Under the leadership of Mike Cagney and June Ou, Figure Markets builds on Figure Technologies' success in blockchain and financial products. The new platform will leverage the Provenance Blockchain, designed specifically for financial transactions, which has recorded over $30 billion USD in real-world assets since its 2018 launch. Figure Markets will operate independently of Figure Lending and will offer highly liquid markets along with options for lending and borrowing. The platform aims to eventually provide trading in various equity, fixed income, crypto products, and alternative investment options, utilizing cross-collateralization and netting.
Figure Markets is also working towards creating a registered security alternative to stablecoin, supporting the platform's ecosystem. This integrated approach allows investors to manage their portfolios with greater efficiency and flexibility on a regulated platform.
About Figure Markets:
Figure Markets is developing the future of private capital markets through blockchain technology. The company aims to create an advanced decentralized financial marketplace where anyone can trade, invest, and grow their wealth globally.
Website: https://www.figuremarkets.com/
X Account: https://x.com/figuremarkets
X Followers today: 2,252
About Investor
Investor: Jump Crypto, Pantera Capital, and Lightspeed Faction
The lead investors in this Series A round are Jump Crypto, Pantera Capital, and Lightspeed Faction. Jump Crypto is known for its extensive involvement in the digital asset space, Pantera Capital is a prominent investment firm specializing in blockchain technology, and Lightspeed Faction focuses on financial technologies. Their support highlights the potential of Figure Markets to transform digital asset trading with blockchain technology.
Location: United States
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
Comments