Figure Markets choose Cordial Treasury

June 18, 2024

Figure Markets will utilize Cordial Treasury to secure and enable trading for tokenized real-world assets and cryptocurrencies.

The most adaptable custody technology.

Cordial Systems, a provider of institutional-grade self custody software with a Zero Trust security model, has partnered with Figure Markets to offer decentralized custody and segregated margin accounts for collateral management. This partnership supports Figure Markets’ on-chain limit order book, which combines the liquidity of traditional finance with decentralized asset control.

For cryptocurrencies and tokenized real world assets

Figure Markets is democratizing finance through blockchain by building the exchange for everything — a decentralized custody marketplace for crypto, stocks, bonds, credit, bankruptcy claims and more. Leveraging Cordial Treasury, Cordial System’s self-hosted product enables institutions to independently manage their digital asset operations. Figure Markets will enhance customer ownership rights and utility for their various digital assets as part of offering cross-collateralization through netting and margining across the portfolio.

“Figure Markets is one of the most innovative financial technology companies out there,” says Nicolas Stalder, CEO & Co-founder at Cordial Systems. “We are pleased that they have chosen our Cordial Treasury product to ensure that digital asset keys and the movement of assets remain within control of their exchange members and pledgors of collateral. Institutions can now get direct market access to deep order book liquidity without the centralization of crypto trading into one counterparty. We look forward to supporting Figure Markets further on their path toward redefining capital markets.”

“One of our core tenets is that our customers have the right to maintain complete control over their assets until the moment they trade,” says Matt Conroy, Chief Technology Officer at Figure Markets. At Figure Markets, we firmly believe in truth over trust— the ownership and existence of an asset and claims to those assets should be without a doubt, true. To support these beliefs and our investors, we leverage MPC technology to enable self-custody. Our partnership with Cordial Systems ensures that we are supporting our customers with the most secure, resilient, and efficient trading experience while avoiding the risk of depositing assets on an exchange.”

Figure Markets opts for a co-hosted deployment model

With Cordial Treasury, assets on the Figure Markets Exchange can be securely managed on their native blockchains with the ownership interest being traded on the exchange. This innovative approach ensures that assets remain on their respective networks in decentralized custody under trusted MPC hosts, eliminating the need for transfers to centralized exchanges and facing the execution venue as a counterparty.

Cordial Treasury currently supports over 35 blockchains in total including all Bitcoin and relevant forks, Ethereum and other EVM chains, Polkadot ecosystem, Cosmos ecosystem, Provenance, Aptos, Sui and more. Other blockchains have the capability to be added in as little time as 1
week.

To learn more about Cordial Treasury, please visit www.cordialsystems.com

For media inquiries, please contact Phil LeRoy at (310) 260-7901 or
Phil(at)MelrosePR(dot)com.

About Cordial Systems

Cordial Systems is a provider of institutional-grade self custody software using a Zero Trust security model. Cordial Systems' first product, Cordial Treasury, provides institutions with the first fully trustless solution that delivers full sovereignty—not just over their digital asset keys—but also the entire codebase, technology stack, and operating model. Cordial Treasury is the only solution optimized for clients with a non-negotiable requirement to own and control all aspects of their digital asset business in order to meet regulatory compliance, strong security posture, and good vendor management.

About Figure Markets


Figure Markets is democratizing finance through blockchain. We’re building the exchange for everything - a decentralized custody marketplace for crypto, stocks, bonds, credit, bankruptcy claims and more. We’re bringing best in class leverage, margining and liquidity to our exchange, while offering our members extensive borrowing options and unique investment opportunities.

Figure Markets is built on the Provenance Blockchain, and we use its native token, Hash, on the exchange. Provenance Blockchain embodies truth over trust, and provides a foundation for Figure Markets to bring transparency and efficiency in a decentralized world. Figure Markets is backed by leading venture capital firms and strategic partners, including Jump Crypto, Pantera, Distributed Global, Faction Lightspeed, NewForm Capital and CMT Digital.
Figure Markets was founded by a seasoned team of entrepreneurs and operators from tradfi, fintech and defi, including Mike Cagney and June Ou.

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