Figure Markets Unveils its Global Crypto Exchange, Offering 8% Yield Opportunity
A new global crypto exchange is shaking up the market with competitive leverage options and yield-earning cash sweeps. It allows users to earn up to 8% on their cash and stablecoin balances.
Figure Markets, a prominent player in the decentralized custody space for digital assets, has officially launched its global crypto exchange from the Cayman Islands. This platform introduces diverse, innovative features and yield-generating opportunities for users. A notable feature is the introduction of a yield sweep designed for eligible global users, allowing them to earn up to 8% annually on their cash and stablecoin balances. U.S. users can earn up to 3% annually on USD balances stored in an FDIC-insured bank.
After its U.S. debut in August, the introduction of the Cayman-licensed global crypto exchange marks a significant step in Figure Markets relentless pursuit to democratize finance, offering users around the globe access to powerful trading options and cutting-edge financial products. The global platform revolutionizes the trading landscape by providing high cash leverage alongside a decentralized custody solution and cross-collateralization. This empowers users to control their assets, significantly mitigating the risks typically linked with traditional centralized exchanges.
Were committed to righting the wrongs of the past and providing users with the tools they need to trade, borrow, and invest on the platform while minimizing exchange risk, said Mike Cagney, CEO and Co-Founder of Figure Markets. This global expansion is a major milestone for us in addressing the issues caused by centralized exchanges and leveling the playing field for all traders. We are building a financial ecosystem where everyone has the opportunity to be an owner.
Cash yields on non-USD and stablecoin balances stem from a groundbreaking fund supported by tangible assets on the blockchain. The fund features daily liquidity and automatic sweeps, optimizing user funds to consistently generate returns.
We are excited to introduce this innovative feature that directly addresses the needs of our members, said June Ou, President of Figure Markets. By offering the ability to earn high returns on idle cash while mitigating trading friction, we are empowering our traders to optimize their capital and enhance their overall trading experience.
The exchange is rolling out a new yield offering, coupled with an enticing opportunity for qualified members to access margin up to 5:1. Members of the exchange can cross-collateralize their positions effortlessly, utilizing BTC balances to acquire ETH, for instance. Anticipate the launch of enhanced and broader leverage options featuring an extensive range of perpetual that span crypto, commodities, FX, and equities by the end of the year.
Read more: https://zycrypto.com/figure-markets-unveils-its-global-crypto-exchange-offering-8-yield-opportunity/
Text source: ZyCrypto
