Figure Markets is a technology company.
Figure Markets has raised $60.0M across 1 funding round.
Figure Markets has raised $60.0M in total across 1 funding round.
Figure Markets has raised $60.0M in total across 1 funding round.
Figure Markets's investors include Blockchain.com Ventures, Faction VC, Founders Fund, Pantera Capital.
Figure Markets is a digital asset exchange and DeFi platform launched in 2024 as a spin-off from Figure Technologies (now Figure Technology Solutions), offering zero-fee crypto trading, yield generation, crypto-backed lending, and innovative assets like the SEC-registered yield-bearing stablecoin YLDS, all on the Provenance blockchain.[1][3][4] It serves crypto traders, yield seekers, and institutional players by solving key pain points in traditional exchanges—such as high fees, centralized custody, and lack of real yield—through decentralized MPC wallets, Democratized Prime lending (up to 9% APY on BTC, ETH, stablecoins), and tokenized real-world assets (RWAs) like HELOC-backed facilities.[3][4] Backed by $60M Series A from Jump Crypto, Pantera Capital, and Lightspeed Faction, it builds on Figure's dominance as the #1 non-bank HELOC originator, with $16B+ in loans funded and $339M revenue in 2024.[1][2]
The platform integrates TradFi with crypto/DeFi, enabling seamless trading, borrowing against blockchain-native assets, and on-chain RWA financing, such as a $15M HELOC facility as collateral in DeFi.[1][4] This positions Figure Markets at the intersection of lending and crypto, capturing growth in tokenized assets amid rising institutional demand.[1]
Figure Markets emerged in 2024 from Figure Technologies, founded in 2018 by Mike Cagney (ex-CEO of SoFi) and June Ou, who pioneered blockchain in consumer lending by launching the first HELOCs on Provenance Blockchain and automating origination/securitization.[1][2][3] The idea stemmed from Figure's mission to disrupt $35T U.S. home equity markets with tokenized loans, reducing reliance on legacy infrastructure—Cagney's fintech expertise from SoFi fueled instant approvals and $600M monthly on-chain loans.[2][3]
Pivotal moments included early traction with $11.9B+ loans managed, expansion to crypto-backed loans and Figure Connect marketplace in 2024, and spinning out Figure Markets for a unified crypto/TradFi platform.[1][2] By July 2025, Figure Technology Solutions announced a merger with Figure Markets, unifying lending licenses, SEC-registered assets, and offshore exchange ops under one roof for global scale.[1]
Figure Markets rides the RWA tokenization wave, blending $35T home equity lending with DeFi amid surging institutional crypto adoption—timing aligns with 2025's improved market sentiment and demand for on-chain yields/securities.[1][2][4] Market forces like regulatory clarity (SEC-registered YLDS) and blockchain efficiency favor it, enabling non-banks to securitize $600M loans monthly while unlocking DeFi for TradFi assets.[1][3]
It influences the ecosystem by democratizing prime brokerage (Democratized Prime), fostering partnerships (e.g., CryptoRunner), and proving RWAs as viable collateral—accelerating convergence of lending, crypto exchanges, and public blockchains like Provenance.[1][4]
Post-2025 merger, Figure Markets (under Figure Technology Solutions) eyes global expansion, RWA scaling, and public listing, capitalizing on 60%+ revenue growth and 30%+ EBITDA margins.[1] Trends like tokenized private credit, institutional DeFi inflows, and HELOC demand will propel it, potentially dominating as the go-to platform for yield-bearing blockchain assets. Its influence could evolve from niche innovator to ecosystem leader, unifying consumer lending with crypto trading in a compliant, high-yield hub—building directly on its spin-off roots as a blockchain lending pioneer.[1][2]
Figure Markets has raised $60.0M across 1 funding round. Most recently, it raised $60.0M Series A in March 2024.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Mar 1, 2024 | $60.0M Series A | Blockchain.com Ventures, Faction VC, Founders Fund, Pantera Capital |