Figure Markets: crypto trading, MPC custody and cash settlement

Figure Payments Corporation supplies the cryptocurrency brokerage service under the Figure Markets brand. Figure Securities, Inc. operates a separate securities alternative trading system. This profile covers the crypto service and adjacent products that affect funding or account use; permissions remain specific to each affiliate.[11]

HASH/USD and HASH/USDT have separate order books. Their prices can diverge because liquidity and counterparties differ, while USDT itself can move relative to the dollar. Comparing a chart denominated in one quote asset with an order in the other therefore does not measure execution quality on a like-for-like basis. The examples in the explanatory help article are historical illustrations, not current prices.[31]

The agent guide lists day, immediate-or-cancel, good-till-cancelled and fill-or-kill order conventions. It does not supply a post-only time-in-force option. A bot therefore cannot assume that a limit order will qualify for maker treatment. Instruments and symbols are location-specific, and the same credentials do not establish entitlement to every regional market. These are documented controls; no automated strategy or live execution was tested.[20]

Trade API quantities and prices use market-specific scaled values, so displayed amounts cannot simply be sent as raw inputs. Order types, time in force, instrument precision and account reference must agree. Cancellation and cancellation/replacement are explicit operations; token revocation alone should not be assumed to cancel working orders. The orders documentation also prohibits self-matching within the same market.[18]

Network costs are separate from exchange commissions. The Provenance gas guide explains that a submitted transaction can consume fees even when execution fails: validation and the attempted on-chain execution still use resources. Its example concerns HASH balances and gas, so it should not be read as a fixed withdrawal fee for every supported blockchain.[32]

Figure Pay is USD stored value for eligible US users, excluding New York and international users. It rejects cash and mailed checks. Incoming ACH is $2,500 per 24 hours; wires have no stated platform maximum, but bank limits can apply.[4]

However, the linked October 2025 Pay agreement still gives outgoing ACH as the lesser of $5,000 or available balance per 24 hours and up to five business days. Confirm current account terms with support before using the newer guide’s higher limit.[4][25]

The 8 October stablecoin cash-out guide directs withdrawals of $25,000 or more to wire, whereas the general cash-withdrawal guide describes a $25,000 ACH limit. The exact $25,000 boundary is therefore inconsistent between the instructions. The account’s displayed eligibility or support confirmation is needed at that boundary; the profile does not silently change one wording into the other.[29][25]

The deposit and withdrawal clocks should also be kept separate. An available trading balance after an ACH deposit does not establish that its value can immediately leave as crypto or cash. Selling a stablecoin creates a conversion instruction first; initiating the subsequent bank transfer adds its own processing and destination requirements.[23][28]

Figure distinguishes its self-custody Provenance wallet from external-chain assets held in MPC accounts. In the latter arrangement, key shares are distributed among hosts, underlying assets stay in the MPC account, and customers trade entitlements on Provenance. Withdrawal of the original asset depends on the hosts cooperating. This model does not make an entitlement identical to holding the original BTC or ETH key in a standalone wallet.[22]

The general terms also matter when assets are committed to the service. Linking a wallet can authorise specified asset movements and block assets from other uses while committed. Account access, wallet signing and contractual control should therefore be assessed together; the marketing word self-custody alone does not describe every operational restriction.[2]

The disclosure site still links an Irish customer agreement identifying Figure Markets Ireland Limited, company 753781, and describing its VASP-era service. That December 2024 document is retained as entity evidence, not as proof of current EU authorisation. Its launch-era pricing is also not substituted for the current exchange fee page.[13]

The Central Bank of Ireland’s post-transition notice explains that the EU MiCA transition periods ended by 1 July 2026 and directs consumers to check current CASP authorisation. A current firm-specific Figure authorisation was not established in this research. Consequently, this profile makes no positive finding of current EEA service permission from the older Irish agreement or the availability of an app.[12]

The general terms direct users to report suspected unauthorised or incorrectly executed transactions promptly and to review confirmations. Reporting does not guarantee reversal or reimbursement. The money-transmission disclosure provides state-specific escalation routes; those are distinct from a wallet recovery request or a securities-account complaint.[2][5]

The business-continuity document on the shared disclosure page expressly concerns Figure Securities. Its recovery targets and alternative contact instructions should not be presented as a guaranteed crypto-exchange outage remedy. No verified telephone dealing service or exchange-wide recovery-time commitment was found for the crypto account.[15]

Figure identifies Figure Payments Corporation by NMLS number 2033432 and says its crypto service is not licensed by the SEC or CFTC and is not an NFA member. The linked NMLS entry was not inspectable during research. These attributed disclosures do not establish a verified state-by-state licensing position.[11]

The current group footer places the branded entities within Figure Technology Solutions. The homepage’s $42 billion tokenisation figure is separately footnoted as cumulative minted value by group subsidiaries on Provenance, with data dated 11 August 2026. It is not the crypto exchange’s daily trading turnover or number of active traders. A comparable current exchange-user count was not established.[1]

Legacy wallets require their own migration path. The hosted-wallet guide concerns customers whose wallets predated the Figure Markets app launch on 23 June 2024. It instructs them to import from Figure.com using the earlier account credentials and then complete identity verification. That is a documented account transition, not evidence that the older login or a stored legacy balance automatically grants access to every current service.[36]

Operator

Figure Payments Corporation (crypto); separate securities and certificate affiliates.

Exchange model

Hybrid

Service scope

Crypto order-book trading and wallet services; separately eligible margin, HASH delegation, Prime lending and affiliate securities products.

Client types

Retail clients; Institutional clients

Pricing publication

Public pricing

Other names

Figure Markets Exchange

Headquarters

Brand contact: San Francisco, United States.

Covered jurisdictions

United States; Ireland; Cayman Islands

Pricing scope

Published current crypto fee 0.10% per side; transaction preview and separate funding or network charges apply. Proposed tiers are not treated as effective.

Funding scope

Eligible US USD accounts use ACH/wire; supported crypto transfers use asset-specific addresses. Trading availability can precede ACH settlement and withdrawal eligibility.

Custody and asset handling

Provenance-native self-custody wallet; external-chain assets use MPC accounts and tradable entitlements. Recovery and asset commitment create additional conditions.

Client eligibility

Verified individuals and entities; New York cryptocurrency trading excluded. Product-specific and geographical checks apply. Current EEA authorisation and a full acceptance matrix were not established.

Support

[email protected] and +1 888 851 4883; published guidance does not establish emergency dealing or a response guarantee.

Authorisation and registration scope

Company-stated NMLS 2033432; firm entry unverified. Affiliate securities status and historical Irish VASP documentation do not establish current crypto permissions.

Exchange metadata checked 21 Oct 2026Source 1Source 3Source 4Source 7Source 8Source 10Source 11Source 12Source 13Source 15Source 16Source 20Source 21Source 22Source 23Source 26Source 30Source 33Source 38

The March 2025 margin contract sets initial LTV at 80% and liquidation at 90%. A $20 equity/$80 loan example produces 80% LTV and five-times-equity exposure before costs. Collateral is not isolated; formal margin calls are not promised and deficits remain payable. These terms do not describe every later Prime pool.[7]

The welcome-bonus agreement describes a conditional $50 stablecoin award for a new customer using an eligible affiliate link, passing KYC, depositing at least $500 within 30 days after KYC, retaining the deposit for 30 days and keeping the account in good standing for 60 days. Payment is stated within 60 days. The offer can change or end, and abuse-related awards can be reversed or offset. It is neither immediate withdrawable cash nor a guaranteed account entitlement.[14]