PriyaPatelTLDR
Key Points:
- Figure launches blockchain-native “exchange for everything” with $60 million funding round.
- CEO Mike Cagney aims to create a decentralized crypto exchange with plans for expansion into various asset classes.
In the latest Fintech Nexus Newsletter, Figure, led by CEO Mike Cagney, announced the launch of Figure Markets, a blockchain-native decentralized crypto exchange. This move comes after Figure’s success in home equity lending and expansion into other financial sectors. Cagney envisions creating an “exchange for everything” and raised $60 million for the initial launch of Figure Markets. The company plans to start with crypto assets but aims to include public equities and asset-backed securities in the future. The decision to go decentralized stems from Cagney’s belief that major crypto exchanges are too centralized. This bold move showcases Figure’s commitment to innovation and broadening its scope in the fintech industry.
