Coinflex Launches its Physically Delivered Cryptocurrency Futures Exchange
According to a recent report, Coinflex has announced the launch of its cryptocurrency futures company based in Hong Kong.
Physically Delivered Cryptocurrency Futures
This news is coming right after a report surfaced last month that the physically delivered cryptocurrency futures exchange intends to offer future contracts for bitcoin core (BTC), Ethereum (ETH), and bitcoin cash (BCH), all paired against tether (USDT).
The exchange which is based in Hong Kong is owned by a combination of several startups which includes Dragonfly Capital Partners and Trading Technologies International Inc., crypto trader Mike Komaransky. Alameda Research, Grapefruit Trading, Market markers B2C2, Global Advisors, Coinfloor and it’s subsidiary companies also have partial ownership of Coinflex.
Differences Between Traditional Futures Exchanges and Crypto Futures Exchanges
The Chief Executive Officer of Coinflex, Mark Lamb, who also happens to be head of the exchange released a publication in which he explained the differences between traditional futures exchanges and crypto futures exchanges. He said that traditional exchanges usually have nothing less than 2,3, or 4 intermediaries between the company and the client.
Also, traditional futures brokerage firms and Futures Commission Merchants (FCMs) usually require that it’s client have a high net worth or be an expert trader with experience in financial markets.
Confessing his love for cryptos, Lamb said that:
“I fell in love with bitcoin because it’s peer-to-peer, open, and transparent,” “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.”
