Figure Tech Secures $60M Funding To Launch Crypto & Stock Trading Platform

Highlights

Figure Tech secures $60M for Figure Markets, revolutionizing crypto and stock trading.
Prominent backers include Pantera Capital, Jump Crypto, and others.
Pantera Capital Founder Joins Figure Markets' board as part of the deal.

In a groundbreaking move, fintech firm Figure Tech has secured a staggering $60 million in funding, propelling its foray into the crypto and stock trading sphere. This significant investment marks a pivotal moment for Figure Technologies as it unveils plans to launch Figure Markets, a revolutionary platform poised to redefine how investors engage with blockchain-native assets.

Figure Tech Secures $60 Mln Funding

Figure Technologies’ latest announcement heralds the unveiling of Figure Markets, a cutting-edge platform set to revolutionize the trading landscape. Backed by a $60 million Series A funding round led by esteemed investors such as Jump Crypto, Pantera Capital, Lightspeed Faction, and others, Figure Markets is primed to disrupt traditional trading paradigms.

Meanwhile, the platform’s core innovation lies in its decentralized custody crypto exchange and blockchain-native security marketplace, underpinned by Multi-Party Computation (MPC) technology. This advanced approach eliminates single-point-of-failure risks associated with centralized exchanges, ensuring enhanced security and user control over assets.

On the other hand, with Figure Markets, investors gain access to highly liquid markets, seamless lending and borrowing options, and a wide array of trading opportunities across crypto, securities, and alternative investments. Notably, Pantera Capital founder Dan Morehead will join the Figure Markets’ board as part of the deal.

Notably, Mike Cagney, CEO of Figure Markets, expressed confidence in the transformative potential of blockchain technology. He said:

“This funding validates our vision to redefine capital markets with blockchain technology.”

With a commitment to extending blockchain benefits to a broader asset spectrum, including crypto and securities, Figure Technologies aims to catalyze a paradigm shift in financial markets.

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A Closer Look Into The Report

Dan Morehead, Founder and Managing Partner of Pantera Capital lauded Figure Markets as a disruptive force in the digital assets space, praising its innovative use of MPC technology to address critical market pain points and enhance efficiency and security. In addition, Banafsheh Fathieh, Co-Founder and General Partner of Faction, echoed this sentiment, emphasizing blockchain’s role in driving financial innovation and Figure’s position at the forefront of this transformative journey.

Meanwhile, the launch of Figure Markets represents a significant leap towards democratizing access to trading opportunities and ushering in a new era of financial inclusivity. As Figure Technologies continues to pioneer advancements in blockchain-driven solutions, the global financial landscape stands poised for unprecedented evolution and disruption.

Notably, as reported by CoinGape Media, Figure Technologies sought SEC approval in January to introduce interest-bearing stablecoins, indicating a significant move into the crypto realm. This demonstrates the company’s keen interest and potential involvement in the cryptocurrency space.

Also Read: CoinShares, WisdomTree, & VanEck Rush To UK As FCA Eases Grip On Crypto ETPs

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam's expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news. Rupam's career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

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