Coinflex has now launched its physically delivered cryptocurrency futures exchange. The new Hong Kong-based leveraged trading platform is a spin-off from one of the United Kingdom’s oldest cryptocurrency exchanges, Coinfloor.
Also Read: In the Daily: Elon Musk Talks Bitcoin, Shanghai’s Fudan University, Xdat Exchange
Coinflex Exchange Is Now Online
Coinflex, a physically delivered cryptocurrency futures exchange with leverage of up to 20x, announced on Feb. 20 that the platform’s website is now live. Last month it was reported that the trading venue plans to offer futures contracts for bitcoin core (BTC), bitcoin cash (BCH), and ethereum (ETH), all paired against tether (USDT).
Based in Hong Kong and incorporated in the Republic of Seychelles, Coinflex is owned by a consortium that includes Trading Technologies International Inc., crypto trader Mike Komaransky, and Dragonfly Capital Partners. Market markers B2C2, Global Advisors, Alameda Research, Amber AI, Grapefruit Trading, Coinfloor and its subsidiary companies also have partial ownership of Coinflex.
Cutting Out the Middle Men
The Coinflex platform is headed by chief executive officer Mark Lamb, who published a Medium post on Wednesday detailing the differences between traditional futures vs crypto futures exchanges. He explained that traditional exchanges usually have a minimum of two and often three or four layers of intermediaries between the exchange and the customer. Traditional futures brokerage firms and Futures Commission Merchants (FCMs) also usually require a customer be a high net worth individual or professional trader with experience in financial markets.
“I fell in love with bitcoin because it’s peer-to-peer, open, and transparent,” stated Lamb. “Everyone has the chance to transact on the same network. Anyone who has the tools can run a node and I won’t reject your Proof of Work because you come from a different country, don’t speak my language, or don’t meet a government-set ‘capital requirement’. Crypto derivatives are built in the same fashion as bitcoin. Virtually anyone can sign up regardless of wealth, geographic location, or whether or not he or she has a bank account.”
What do you think about Coinflex launching physically delivered crypto futures trading? Share your thoughts in the comments section below.
Images courtesy of Shutterstock.
Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.
The post Coinflex Launches Physically Delivered Cryptocurrency Futures Exchange appeared first on Bitcoin News.