Did CoinFLEX's New Bitcoin Futures Platform and FLEX Token Just Take a Leg Up on Bakkt's Arrival?

As the Intercontinental Exchange (ICE) continues to delay the launch of the Bakkt Bitcoin Futures platform, there are other firms that are taking advantage of this situation.

CoinFLEX, another cryptocurrency startup that offers physically delivered Bitcoin Futures Contracts has received support from many recognized companies.

CoinFLEX Takes Advantage of Bakkt Delay

According to a recent press release unveiled by the company on March 13, CoinFLEX will be launching FLEX Coin, a loyalty digital asset for early traders on the platform. The main intention behind this is to encourage liquidity and reward members that trade on the platform.

Furthermore, the company has already received investments from investors such as Digital Currency Group or Polychain Capital. Other backers were Roger Ver, Mike Komaransky and also Dragonfly Capital Partners.

CoinFLEX aims at fulfilling market demand for secure crypto futures exchanges. As the digital market expanded, the interest from institutional investors also increased. However, the infrastructure to receive institutions was not ready yet.

Companies such as Fidelity Digital Assets or the ICE have been trying to create the necessary conditions for larger investors to enter the market.

The FLEX Coin will introduce the world’s first stablecoin-to-stablecoin futures contracts. Users will have the ability to hedge exposures with zero index or settlement manipulation risk. FLEX Coin aims at creating a dynamic growing and committed trading community.

Mark Lamb, the CEO of CoinFLEX, commented about it:

“With FLEX Coin we want to reward early traders of the platform and build loyalty using a shared exchange coin. We have a growing set of high profile backers, a clear roadmap for delivery and are moving closer to our goal of helping crypto futures trading achieve its full potential.”

According to the CEO of Polychain, Olaf Carson-Wee, Mr. Lamb and the team behind CoinFLEX were able to identify a gap in the fragmented landscape of virtual currency exchanges.

The Intercontinental Exchange announced in August 2018 the Bakkt platform.

The intention was to launch it at the end of 2018, but due to different reasons, the platform will be launched later this year. Investors and crypto enthusiasts are currently waiting for it and how it could help the market start growing once again.

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Carl T
Carl T
Carl is a legend in cryptocurrency space for his long-storied experience, history and insights. He is a digital nomad who fell in love with bitcoin and its offspring for many years now and prides himself on delivering quality perspectives in the emerging world of crypto-assets and blockchain technology.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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