CoinFLEX started trading cryptocurrency futures in the Asian market22.02.2019
On February 20, CoinFLEX, a platform providing Bitcoin futures with physical delivery and leverage up to 20x, announced that the platform’s website has been launched. Last month, it was reported that the marketplace plans to offer futures contracts for Bitcoin (BTC), Bitcoin Cash (BCH) and Etherium (ETH), which will be traded against Tether (USDT).
CoinFLEX is owned by a consortium of Trading Technologies International, cryptocurrency trader Mike Komaransky and Dragonfly Capital Partners. B2C2 market makers, Global Advisors, Alameda Research, Amber AI, Grapefruit Trading, Coinfloor and its subsidiaries also partially own CoinFLEX.
The CoinFLEX platform is headed by CEO Mark Lamb (Mark Lamb), who published on Wednesday a message on Medium, in which he described in detail the differences between the traditional futures exchanges and cryptocurrency futures markets. He explained that traditional exchanges usually have at least two, and often three or four levels of intermediaries between the exchange and the client. Traditional futures brokerage firms and futures brokers also typically require the client to be an individual or professional trader with a high level of income and experience in the financial markets.
“I fell in love with Bitcoin because it’s open and transparent”, Lamb said. “Everyone has the opportunity to make deals in one network. Anyone with the right tools can manage a site, and I will not give up your Proof-of-Work because you come from another country, do not speak my language, or do not meet the “capital requirements” set by the government. Cryptocurrency derivatives operate in the same way as Bitcoin. Virtually anyone can take part in transactions, regardless of their capital, geographic location, or bank account. ”
The first half of 2019 promises to be quite active for the cryptocurrency futures contracts market. At the end of November last year, Nasdaq announced that it plans to launch Bitcoin futures in 2019. In addition, the launch of the Bakkt digital assets trading platform is expected this year.