CoinFLEX

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Coin Futures Lending Exchange (CoinFLEX)
Coinflex logo.jpg
Founded 2019
Headquarters Hong Kong
Key People Mark Lamb, CEO
Products CoinFLEX (cryptocurrency exchange): BTC, ETH, BCH futures contracts
Twitter @CoinFLEXdotcom
Website Coinflex Homepage

Coin Futures Lending Exchange, or CoinFLEX, is a cryptocurrency trading venture owned by a consortium of individuals and companies, including Roger Ver, Trading Technologies, and Coinfloor. It was originally CoinfloorEX, a unit of Coinfloor. The CoinFLEX platform will launch in February 2019 for Southeast Asian markets.[1]

Products and Services

CoinFLEX plans on offering its customers the world's first physically-settled futures contracts for bitcoin, Ether, and Bitcoin Cash, which will be traded against Tether and can be leveraged up to 20 times.[2]

CEO Mark Lamb said in a Bloomberg interview that offering physically-settled crypto futures means that when one of these futures contracts expires, the owner or owners of the contract are given the underlying cryptocurrency rather than a cash payment, as is the case with bitcoin futures contracts offered by Cboe and the CME Group, for example. Traders who go short will deliver a cryptocurrency such as bitcoin and receive Tether, a cryptocurrency whose value is pegged to the U.S. dollar. Traders who go long will deliver Tether and receive another cryptocurrency.[3]

CoinFLEX also intends on offering stablecoin-to-stablecoin trading services, offering trading contracts for Tether against Circle's USD Coin.[4]

References