Summary
TLDR: Figure Technologies raised $60 million to build a decentralized crypto exchange and offer an alternative to stablecoins. They will use Provenance blockchain for a range of securities and multi-party computation wallets to enhance security. The company aims to create fixed income securities on the blockchain and is supported by investors like Jump Crypto and Pantera Capital. Lightspeed Faction also raised funds to invest in early-stage crypto projects. This move towards tokenizing real-world assets is seen as a shift in financial markets, with Figure leading the way in innovation.
Key Points
1. Blockchain-focused Figure Technologies raised $60 million to develop a decentralized competitor to centralized crypto exchanges.
2. Figure Markets, the new exchange, will utilize the Provenance blockchain to trade various securities, including equities, fixed income, alternatives, and crypto assets.
3. The company plans to use multi-party computation (MPC) wallets to enhance security and eliminate single-point-of-failure risks on centralized exchanges.