Figure Technologies, a prominent player in financial technology focusing on both home equity and blockchain, has introduced Figure Markets. Through a Series A funding round, Figure Markets secured over $60 million, led by Pantera Capital, Jump Crypto, and Lightspeed Faction, with participation from Ribbit Capital, Distributed Global, and CMT Digital, among others. The aim of Figure Markets is to establish an all-inclusive marketplace where investors can trade cryptocurrencies, securities, and alternative investments on a single platform powered by blockchain technology.

As part of the funding round, Dan Morehead, founder and managing partner of Pantera Capital, will join the board of directors of Figure Markets. Utilizing Multi-Party Computation (MPC) technology, Figure Markets plans to build a decentralized custody cryptocurrency exchange and a blockchain-native security marketplace.

MPC-based wallets are in high demand due to their resilience in crypto market fluctuations. By employing cryptographic security keys for non-custodial functionality, they address the vulnerabilities associated with centralized exchanges. Figure Markets' MPC wallets operate on a decentralized network where private keys are shared, requiring approval from multiple parties for each transaction. This approach reduces counterparty risk while ensuring users retain ownership of their assets. Widely adopted in financial institutions and government entities, crypto wallets enhance security.

Under the leadership of CEO Mike Cagney and June Ou, Figure Markets is developing decentralized cryptocurrency and securities marketplaces, both offshore and onshore, using the Provenance Blockchain dedicated to financial transactions. Since its inception in 2018, Provenance Blockchain has recorded over $30 billion worth of tangible assets. Figure Markets will operate independently from Figure Lending, offering a comprehensive platform for trading equities, fixed-income products, cryptocurrencies, as well as lending and borrowing options.

To enrich the Figure Markets ecosystem, the organization is concurrently developing a registered security alternative for stablecoins.

Mike Cagney views this funding as validation of Figure Markets' mission to revolutionize capital markets through blockchain technology, extending its benefits to a wider array of assets, including cryptocurrencies and securities. By addressing market structure concerns and implementing MPC technology, the organization ensures a more secure and efficient future for digital assets. Banafsheh Fathieh, general partner and co-founder of Faction, believes blockchain technology will drive the next wave of financial innovation as physical assets transition to the blockchain. Pantera Capital is excited to support Figure Markets as it advances to the next phase of financial services.