Coinflex has actually now launched its physically provided cryptocurrency futures exchange. The new Hong Kong-based leveraged trading platform is a spin-off from the United Kingdom’s oldest cryptocurrency exchanges, Coinfloor.
Coinflex Exchange Is Now Online
Coinflex, a physically delivered cryptocurrency futures exchange withleverage of up to 20x, announced on Feb. 20 that the platform’s site is now live. Last month it was reported that the trading place prepares to use futures contracts for bitcoin core (BTC), bitcoin cash (BCH), and ethereum (ETH), all matched against tether (USDT).
Based in Hong Kong and incorporated in the Republic of Seychelles, Coinflex is owned by a consortium that consists of 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 ceo Mark Lamb, who published a Medium post on Wednesday detailing the differences between standard futures vs crypto futures exchanges. He described that traditional exchanges generally have a minimum of 2 and often 3 or 4 layers of intermediaries between the exchange and the client. Traditional futures brokerage companies and Futures Commission Merchants (FCMs) likewise normally need a client to be a high net worth individual or professional trader with experience in financial markets.
“I fell for bitcoin due to the fact that it’s peer-to-peer, open, and transparent,” stated Lamb. “Everyone has the opportunity to transact on the exact same network. Anybody who has the tools can run a node and I will not reject your Proof of Work since you originate from a different nation, do not speak my language, or do not meet a government-set ‘capital requirement’. Crypto derivatives are built in the same fashion as bitcoin. Virtually anybody can register regardless of wealth, geographical area, or whether or not he or she has a bank account.”
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