Today Figure unveiled Figure Markets as a spin off crypto and securities exchange with $60 million in funding. Jump Crypto, Pantera Capital and Lightspeed Faction led the Series A. Other investors include Distributed Global, Ribbit Capital and CMT Digital.
Figure is best known for founding the Provenance blockchain and extending more than $6 billion in home equity loans. Co-founder Mike Cagney was also the co-founder of SoFi.
As we highlighted last week, Figure Markets plans the exchange to use decentralized custody using multi-party computation (MPC) wallets. Hence, several people need to authorize asset movements.
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