CoinFLEX, a Seychelles-based physically delivered crypto futures exchange, secured over $10m in funding.
The round was co-led by Polychain Capital and NGC Ventures, with participation from Divergence Digital Currency and Bitcoin Cash advocate and angel investor Roger Ver.
Led by Mark Lamb, CEO, CoinFLEX is a physically delivered crypto futures exchange developed to solve the issues with cash-settled crypto futures contracts and provide high leverage ways to hedge crypto exposure with zero index or settlement manipulation risk. The company is focused on the Asian retail trader market as well as the market for commercial hedging, including mining firms, OTC trading desks and global proprietary trading firms.
CoinFLEX has a trading volume of over $150,000,000 USD.
In order to support this growth and further accelerate liquidity, the company has also announced the launch of its Market Making Program, an initiative aimed at professional proprietary trading firms, hedge funds and institutions within the cryptocurrency industry, to participate in the platform while meeting predetermined monthly objectives.