The brand new buyers have joined Coinflex’s investor consortium, which includes main market making and enterprise capital names resembling Dragonfly Capital Companions, Buying and selling Applied sciences and Roger Ver.
In the identical announcement, Coinflex launched its FLEX Coin, which is designed to encourage liquidity and reward early merchants on the platform. Merchants will probably be paid a certain quantity of FLEX based mostly on the proportion of the quantity they commerce, relative to the whole each day quantity on the platform, the press launch notes.
Coinflex CEO Mark Lamb acknowledged within the press launch that with the help of excessive profile buyers, the corporate is “transferring nearer to our purpose of serving to crypto futures buying and selling obtain its full potential.”
Claiming to be the world’s first physically-delivered crypto futures market, Coinflex can be planning to launch what it calls the world’s first stablecoin-to-stablecoin futures contract, the press launch says.
Olaf Carson-Wee, CEO of Polychain, was quoted within the press launch as saying that Coinflex, as an trade for bodily settled futures, “will probably be properly positioned to seize important order stream from speculators, institutional merchants and Proof of Work miners in search of to hedge in opposition to crypto value volatility and hash price volatility.”
As beforehand reported, bodily delivered futures implies that on the time of a contract’s expiration, merchants will probably be given the underlying cryptocurrency as an alternative of a money cost.
In the meantime, market big the Intercontinental Alternate (ICE) has just lately said that the launch of its crypto platform Bakkt, which is ready to incorporate Bitcoin futures buying and selling, is predicted later in 2019. Initially announced in August 2018, the digital asset platform’s launch was delayed as a consequence of ongoing consultations with the United States Commodity Futures and Buying and selling Fee.