Figure Markets Review (2026)
Figure Markets is a decentralized digital asset exchange and financial platform. It offers services such as:
Trading cryptocurrencies including BTC, ETH, SOL, and more
Providing crypto-backed loans starting from 9.9% APR
Yield-generating products like the SEC-registered stablecoin YLDS and the Forward Vault
We spent 7 hours researching and testing Figure Markets' platform to understand how Figure Markets works and whether it delivers on its promises. In our review you'll find its pros, cons, and an analysis of its services.
| Company Overview | Details |
|---|---|
| Company Type | Cryptocurrency exchange and DeFi platform |
| Self-custody crypto trading | Yes |
| Crypto-backed loans | Yes |
| Yield-generating products | Yes |
| Trading fees | Zero trading fees |
| Loan interest | Starting from 9.9% APR |
| Supported crypto | BTC, ETH, SOL, USDC, HASH, and more |
| Requirements | U.S. resident and valid ID |
Who is Figure Markets for?
Figure Markets bridges the gap between traditional finance and decentralized crypto ecosystems, making it appealing to a specific segment of crypto users. Its hybrid approach provides the benefits of decentralization while maintaining ease of use more typically associated with centralized platforms.
Requirements You Must Meet
Age: Must be 18 years or older
Location: Currently limited to United States residents
Documentation: Valid government-issued ID for KYC verification
Technical requirements: Compatible device with internet connection
Figure Markets is best for…
Figure Markets is best for crypto investors who prioritize self-custody and security but don’t want to sacrifice user experience.
It’s ideal for those looking to earn yields backed by real-world assets rather than purely speculative crypto yields. The platform suits both crypto newcomers who appreciate a clean interface and experienced users who value on-chain transparency.
It’s particularly well-suited for homeowners or investors interested in real estate-backed returns through their Forward Vault product.
Figure Markets is not for you if...
Figure Markets is not for you if you're looking for a huge selection of altcoins. The platform supports a growing but still limited set of tokens compared to major exchanges.
International users should look elsewhere since the platform is only available to U.S. residents.
If you're a high-frequency trader requiring deep liquidity or advanced charting tools, more established exchanges might better serve your needs. Additionally, if you're uncomfortable with newer platforms that are still building their user base and liquidity pool, you might prefer a more established exchange.
Figure Markets Core Services
Let’s analyze the core services of the platform.
Crypto Exchange
Figure Markets’ exchange combines the speed of centralized platforms with the security of decentralized finance. Built on the Provenance blockchain, it offers institutional-grade security while keeping you in control of your assets through self-custody.
Key Features
Zero-fee trading on all spot pairs
Self-custody through Multi-Party Computation (MPC) wallets
On-chain transparency for all transactions
Support for BTC, ETH, SOL, USDC, HASH, and additional tokens
Advanced order types including market, limit, and stop orders
Real-time market data and depth charts
Institutional-grade security protocols
Future support for tokenized stocks and real estate assets
Crypto-Backed Loans
| Feature | Details |
|---|---|
| Loan minimum | $5,000 |
| Interest rate | Starting from 9.9% APR (rates vary by LTV) |
| Max initial LTV | 75% |
| Max LTV | 90% |
| Term | 12 months, no prepayment fees |
| Eligible collateral | BTC or ETH |
| Disbursement | USD or USDC |
Need cash but don't want to sell your crypto? Figure Markets' lending service lets you borrow against your digital assets without credit checks, allowing you to maintain your crypto positions while accessing immediate liquidity.
Key features
Interest rates starting from 9.9% APR at 50% LTV
No credit checks required
12-month standard loan terms
No prepayment penalties
Same-day funding availability
Maintain ownership of your collateralized crypto
Loan-to-value (LTV) ratios up to 75% initial
Automated margin calls and protection mechanisms
Simple online application process
Forward Vault
The Forward Vault offers a unique opportunity to earn returns generated by U.S. home equity loans, with yields reported up to 7%. This innovative product bridges traditional real estate finance with digital asset investing, providing more stable yields than typical crypto offerings.
Key features
Returns backed by Figure’s home equity line of credit (HELOC) loans
Income generated from real-world assets, not just cryptocurrency speculation
Variable yield rates based on current market conditions
Monthly distribution of earnings
Transparent reporting on underlying loan performance
Lower volatility compared to pure crypto investments
Minimum investment requirements apply
Ability to withdraw funds according to the vault’s terms
Regular performance updates and reporting
YLDS Stablecoin
YLDS is Figure Markets' SEC-registered yield-bearing stablecoin, the first of its kind registered with the SEC. It offers a variable yield tied to the Secured Overnight Financing Rate (SOFR) minus 50 basis points, currently around 3.8% net annual yield. It maintains a stable $1 value while generating passive income.
Key features
Variable yield based on SOFR minus 50 basis points (currently around 3.8%)
Maintains stable $1 USD value
First SEC-registered yield-bearing stablecoin on a public blockchain
Backed by real-world cash-flowing assets
Fully transparent reserve reporting
Easy to buy, hold, and redeem
No lock-up periods
Automatic yield accrual
Usable for trading or as stable value storage
P2Prime
P2Prime allows institutions and sophisticated traders to access deep liquidity, advanced trading tools, and financing options in a secure, programmatic environment. This service caters to high-volume traders and institutional clients.
Key features
API integration for algorithmic trading
Advanced order routing and execution
Cross-margin capabilities
Institutional-grade financing options
24/7 dedicated support
Custom reporting and analytics
Advanced risk management tools
High-performance trading infrastructure
Competitive fee structure for high-volume traders
Private Funds
Figure Markets provides qualified investors access to exclusive private funds focused on various digital asset strategies and real-world asset tokenization. These professionally managed funds offer diversification beyond standard crypto investments.
Key features
Access to professionally managed investment portfolios
Exposure to digital assets and tokenized real-world assets
Regular performance reporting
Managed by experienced investment professionals
Built-in risk management strategies
Potential for reduced volatility through diversification
Quarterly liquidity options (fund-specific)
Limited to accredited/qualified investors
Transparent fee structure
Tokenized Stocks and Real Estate
Figure Markets is expanding beyond cryptocurrency to offer on-chain trading of traditional assets like stocks and real estate. This upcoming feature will allow round-the-clock trading with instant settlement, bringing traditional markets into the digital asset ecosystem.
Key features
Fractional ownership of traditional assets
24/7 trading availability (no market hours limitations)
Instant settlement vs. traditional T+2 clearing
Transparent on-chain transaction records
Reduced intermediary costs
Programmable ownership through smart contracts
Cross-border access to global markets
Integration with existing Figure Markets wallet
Regulatory compliance with securities laws
How to Activate an Account
Visit the Figure Markets website and sign up
This link will direct you to a secure registration page where you can start creating your account.
Create your account credentials
On the registration page, enter your personal email address in the designated field. Create a strong password that meets Figure Markets’ security requirements (typically at least 12 characters, including uppercase letters, lowercase letters, numbers, and special characters).
Check the box to agree to the Terms of Service and Privacy Policy after reviewing these documents.
Complete email verification
After submitting your initial registration, Figure Markets will send a verification email to the address you provided. This typically arrives within a few minutes, but check your spam folder if you don’t see it.
Open the email and click the “Verify Email Address” button or link provided. This security step ensures that you have access to the email account and helps prevent unauthorized registrations.
Complete the KYC verification process
Once your email is verified, you’ll be prompted to complete the Know Your Customer (KYC) verification process, which is required by US regulations. This multi-step process includes:
- Providing personal information such as your full legal name, date of birth, and current residential address
- Entering your Social Security Number or Tax Identification Number
- Uploading clear, color photos of your government-issued ID (driver’s license, passport, or state ID)
- Taking a real-time selfie for biometric verification that matches your ID photo
- Answering questions about your employment status and source of funds
- Completing a brief questionnaire about your trading experience and investment goals
Set up your self-custody MPC wallet
Figure Markets will guide you through their secure wallet setup process, which utilizes Multi-Party Computation (MPC) technology. This critical step includes:
- Creating a wallet name for easy identification
- Setting up additional security measures like biometric authentication (fingerprint or face ID) if using a mobile device
- Recording your backup recovery phrase (typically 12-24 words) in a secure location offline
- Verifying your understanding of wallet security by completing a brief quiz
- Setting up optional two-factor authentication (2FA) via an authenticator app for an additional security layer
- Confirming your wallet setup by verifying a test transaction
Fund your account
With your account verified and wallet established, you can now fund your account through several methods:
- ACH Transfer: Link your US bank account by providing your routing and account numbers. Funds typically settle in 3-5 business days, and may have initial deposit limits.
- Wire Transfer: Follow the provided wire instructions to send funds directly from your bank. This method is faster (usually 1 business day) but may incur bank fees.
- Cryptocurrency Transfer: Generate a deposit address for supported cryptocurrencies (BTC, ETH, USDC) and send funds from an external wallet. For security, always double-check the deposit address before confirming any transfer. Crypto deposits typically confirm within minutes to an hour, depending on network congestion.
- After your initial funding method is verified, you’ll gain access to Figure Markets’ trading platform, yield products, and lending services.
Consider this before creating an account
Before signing up, ensure you're comfortable with the platform's developing status and limited cryptocurrency selection. The Figure Markets app is available on both iOS and Android, so download it and explore the interface before committing funds. Have your government ID ready for verification, and consider which funding method will work best for you, as ACH transfers can take several days to process. If you're primarily interested in their yield products, research current rates and terms, as these may change over time.
Figure Markets Costs
Figure Markets aims to differentiate itself with a transparent fee structure. Here’s a breakdown of their current costs:
| Fee Type | Amount | Details |
|---|---|---|
| Trading Fees | 0% | Zero-fee trading on all spot pairs |
| Withdrawal Fees | Varies | Network fees apply for crypto withdrawals |
| Deposit Fees | $0 | No fees for ACH or wire transfers |
| Crypto-Backed Loans | From 9.9% APR | Rates vary by LTV ratio (lowest at 50% LTV) |
It's worth noting that while trading is currently fee-free, this could change in the future. The platform earns revenue primarily through their lending products, yield offerings, and institutional services rather than trading fees.
Is Figure Markets the Right Choice for Your Crypto Needs?
Figure Markets stands out with its innovative approach to combining the best aspects of centralized and decentralized finance.
Their zero-fee trading and self-custody model provide compelling advantages for security-conscious users, while their real-world asset-backed yield products offer a refreshing alternative to purely speculative crypto yields. The Forward Vault (up to 7% returns) and YLDS stablecoin (around 3.8% yield) give you options that most crypto exchanges simply don't have.
However, the platform's limited cryptocurrency selection and U.S.-only availability are significant limitations. For those who prioritize security, transparency, and real-world asset backing over extensive crypto options, Figure Markets presents a strong option in the evolving crypto landscape.
FAQs About Figure Markets
Is Figure Markets Legit?
Yes, Figure Markets is a legitimate platform operating under Figure Technologies, a well-established fintech company founded in 2018 by former SoFi CEO Mike Cagney. The platform operates in compliance with U.S. regulations, and its YLDS stablecoin is SEC-registered. It uses Multi-Party Computation (MPC) wallets for self-custody of assets.
What cryptocurrencies can I trade on Figure Markets?
Figure Markets supports trading for Bitcoin (BTC), Ethereum (ETH), Solana (SOL), USD Coin (USDC), HASH (the native token of the Provenance Blockchain), and additional tokens. The platform continues to expand its cryptocurrency offerings.
How does Figure Markets's self-custody system work?
Figure Markets uses Multi-Party Computation (MPC) technology for wallet security. Your private keys are never stored in one place but are split across multiple parties. This approach provides the security benefits of self-custody while maintaining a user-friendly experience. You always retain control of your assets.
What yields can I expect from Figure Markets' products?
Yields vary by product. The Forward Vault, backed by U.S. home equity loans, offers yields up to 7%. The YLDS stablecoin currently offers approximately 3.8% net yield (tied to SOFR minus 50 basis points). P2Prime institutional products offer up to 10% returns. These rates are variable and should be verified on the Figure Markets website for the most current information.
How do Figure Markets' crypto-backed loans work?
Figure Markets allows you to borrow against your BTC or ETH holdings without selling them. Loan terms are 12 months with interest rates starting from 9.9% APR at 50% LTV. There are no credit checks required, no prepayment penalties, and you maintain ownership of your collateralized crypto throughout the loan term. Loans are disbursed in USD or USDC.
Can I use Figure Markets outside the United States?
Currently, Figure Markets is only available to residents of the United States. You need a valid U.S. government-issued ID to complete KYC verification. The company has indicated plans for international expansion, but no specific timeline has been announced.
Who owns Figure Markets?
Figure Markets was founded by Mike Cagney and June Ou in 2018 as part of Figure Technologies. Mike Cagney is also the former CEO of SoFi. The platform is built on the Provenance Blockchain and operates from San Francisco, California.
