The memo
REJECTED. The worklist item is a centralized, KYC-gated exchange account and OTC marketplace, not an on-chain asset or passive protocol position. Figure Payments controls eligibility, custody workflow, order acceptance, account access, and withdrawal processing under amendable terms; New York residents are expressly ineligible. Figure's regulated US posture is a positive relative to offshore exchanges, but an advisor should evaluate it as a named access/custody provider, not treat its reported $1.71B marketplace balance as investable protocol TVL.
What would reopen the file
- Ketju publishes a named Figure custody/access-provider profile covering segregation, insolvency, insurance, subcustody, and exit tests
- The exact client state and product are eligible under current Figure terms and licenses
- A proposed-size cash and crypto withdrawal completes within the provider profile's stated service level
Facts on file
- Verdict
- Rejected
- Exposure
- other
- Chains examined
- Provenance
- Memo version
- v1
- Reviewed
- Next review