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CoinFlex, world’s first practically implemented crypto futures exchange bags over $10 million USD in funding this year. Incorporated in Seychelles, CoinFLEX endeavors to address the issues with cash-settled crypto futures contracts along with enabling ways to hedge crypto exposure an index or settlement manipulation vulnerability. It’s focused on Asian retail trader market as well as commercial hedging.
Polychain Capital; a household name in investors of cryptocurrency protocols and companies and NGC Ventures II, the multi-strategy crypto fund of the world’s greatest blockchain investment firms, NGC Ventures, were major contributors to the fund. Investors like Divergence Digital Currency, a venture fund that invests in crypto-assets and associated early-stage projects working in distributed ledger and related technologies, and Bitcoin Cash advocate and Angel Investor, Roger Ver, also topped the list offering the company robust support in its endeavors.
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Tony Gu, Founding Partner at NGC Ventures stating his views said that:
Crypto derivatives are an essential part of our financials and the evolving ecosystem. Minimizing the price manipulation vulnerabilities, CoinFLEX’s physically delivered crypto futures are bound to play an inevitable part as the market matures and invites some leading financial giants. With a strong vision of eliminating the gap between traditional financial practices and the emerging crypto economy, we look forward to supporting CoinFLEX on their road to success.
On the other hand, Olaf Carson-Wee, CEO of Polychain, said,
Cryptocurrency futures are a natural evolution of trading, and CoinFLEX brings physically delivered and safe futures to the market. As backers of the platform, we look forward to supporting Mark and his team as they grow the business and continue to innovate.
What’s ahead for CoinFlex?
Claiming a trading volume of whopping $150,000,000 USD, CoinFLEX has set its path to become one of the fastest-growing cryptocurrency exchange platforms. In order to fuel this pace and expedite liquidity, CoinFLEX is also on its way to launch its Market Making Program initiative. With a motive to professionalize proprietary trading companies, hedge funds and organizations within the cryptocurrency arena, the program will let a number of firms to play a role in the platform’s continued success along successfully meeting CoinFLEX’s targeted milestones.
Mark Lamb, CEO of CoinFLEX, in an interview, states that,
Since going live in March, we’ve seen rapid adoption of the CoinFLEX platform. Now, with a consortium of high profile and engaged backers in place, we’re ready to grow liquidity even faster to create the leading way for investors to hedge their crypto exposure with zero manipulation risk. The Market Making Program we’ve announced today is already helping us achieve that goal.
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