Figure Tech transforms stock trading and cryptocurrency with the $60M it secures for Figure Markets.
Among the notable backers are Jump Crypto and Pantera Capital.
As part of the acquisition, the founder of Pantera Capital joins the board of Figure Markets.
Fintech company Figure Tech has made a ground-breaking investment of $60 million, launching its entry into the cryptocurrency and stock trading industries. The announcement of its plans to launch Figure Markets marks a turning point for Figure Technologies, as it introduces a ground-breaking platform. This sizeable investment positions it to transform investor interactions with blockchain-native assets.
Figure Tech Gets $60 Million in Investment.
Figure Technologies recently announced the launch of Figure Markets, a cutting-edge platform set to revolutionize the trading industry. Backed by prestigious investors, including Jump Crypto, Pantera Capital, and Lightspeed Faction, Figure Markets is well-positioned to challenge established trading paradigms.
Underpinned by Multi-Party Computation (MPC) technology, the platform’s decentralized custodial crypto trade, and blockchain-native security marketplace constitute its crucial innovation. This cutting-edge method guarantees improved security and user control over assets by removing the possibility of a single point of failure linked to centralized exchanges.
On the other side, investors can access a vast range of trading opportunities across cryptocurrency, securities, and alternative investments with Figure marketplaces, in addition to highly liquid marketplaces and easy lending and borrowing alternatives. Notably, as part of the agreement, Dan Morehead, the founder of Pantera Capital, will join the Figure Markets board.
Notably, Figure Markets CEO Mike Cagney showed faith in the revolutionary potential of blockchain technology. He declared:
“This funding validates our vision to use blockchain technology to redefine capital markets.”
Figure Technologies dedicates itself to extending the advantages of blockchain technology to a wider array of assets, including securities and cryptocurrencies, igniting a revolution in the financial markets.
Examining the Report in More Detail
Industry Leaders Hail Figure Markets as a Game Changer
Dan Morehead, the founder and managing partner of Pantera Capital, didn’t hesitate to praise Figure Markets. He lauded them as a revolutionary force in the digital assets field, especially for their innovative use of MPC technology. Morehead highlighted how this approach improves both efficiency and security, directly addressing significant market pain points. Echoing this sentiment, Banafsheh Fathieh, Co-Founder and General Partner of Faction, emphasized Figure’s leadership in this revolutionary journey. Fathieh also underscored the crucial role blockchain plays in advancing financial innovation.
A New Dawn for Financial Inclusion
Figure Technologies’ leadership in blockchain-based innovations propels the opening of Figure Markets, democratizing access to trading. It marks a pivotal step toward financial inclusion, revolutionizing the world of finance. CoinGape Media reported Figure Technologies’ significant move in January, requesting SEC approval to launch interest-bearing stablecoins. This indicates the company’s strong interest in and possible participation in the cryptocurrency market.
