Figure

The Client

Figure Markets (Figure, now operating as Figure Technology Solutions) is a blockchain-native capital marketplace founded in 2018 that seamlessly connects origination, funding, and secondary market activity. More than 175 partners use its loan origination system and capital market.

This innovative platform enables investors to trade a range of assets, including cryptocurrencies, stocks, bonds, Figure’s own yield-bearing stablecoins (YLDS), and alternative investments.

The Challenge

This revolutionary company required robust, reliable, and scalable exchange technology capable of managing a diverse range of asset transactions. Additionally, Figure needed to integrate liquidity partners (LPs) and address their specific requests, all within a rapid timeframe. When selecting our EP3 technology, FTS’s Head of Institutional Partnerships, Jeff Kleinops, highlighted Connamara’s legacy rooted in the Chicago trading floors and our proven track record of delivering innovative technology under tight deadlines.

The Solution

Bridging Traditional and Decentralized Financial Solutions

When it was time for Figure to enter the next phase, Connamara Technologies employed our robust requirements discovery methodology: a completely tailored and customized experience that allows customers to try the technology in a dedicated demo environment and build an MVP (minimally viable product) before signing a longer-term license agreement. 

Our technical developers worked closely with Figure’s team and their liquidity partners to adapt the EP3 FIX API, accelerating the integration process and ensuring a smooth onboarding experience for the LPs.

We used our innovative technology, including our robust matching engine, EP3, FIX APIs, and other essential APIs, to make their vision a reality. The solution also included integrating EP3’s ledger with the Provenance blockchain backend, enabling real-time clearing and settlement and effectively bridging the gap between traditional and decentralized financial solutions.

• Discovery: Completed in eight weeks.
• Implementation: Finalized in approximately two months.
• Soft Launch: Achieved within four months of initial discussions.

The Result

A Marketplace for Everything

The soft launch was successful, with the first transaction minted on Provenance and reflected in the EP3 ledger. This demonstrated the viability of using a traditional order book alongside DeFi solutions for cost reduction and increased transparency.

In February 2025, Figure received SEC approval for its fiat-backed stablecoin.  Since then, the company has continued to announce major wins and expand its footprint in the digital asset ecosystem.

EP3 has proven to be a chosen exchange technology for leading innovators, enabling rapid market entry at a lower cost. Our dedication to customer success and flexible approach provides the best solution to meet the ambitious goals and development required by exchange operators.

This project’s success is a testament to the Figure team’s talent and vision. Their clear goals and collaboration were crucial in achieving their platform’s rapid and impressive launch.

Read the full joint press release here.