Bakkt Competitor Coinflex Sees Investments From Polychain and Digital Forex Group

Digital Forex Group and Polychain Capital have grow to be the newest high-profile traders within the physically-delivered crypto futures trade Coinflex. 

---

Coinflex Gaining Steam

Coinflex presents itself because the world’s first physically-delivered cryptocurrency futures trade.

Based on a press launch, the platform has managed to draw two extra high-profile traders within the face of Barry Silbert’s Digital Forex Group and Polychain Capital. They’ve joined a consortium of different traders within the project, together with Dragonfly Capital Companions, Roger Ver, and Buying and selling Applied sciences.

FLEXin’ and Finessin’

Per the identical launch, the platform additionally launched its very personal FLEX Coin — a token designed to advertise liquidity and to reward early buying and selling exercise. Based on the announcement, merchants will obtain a specific amount of FLEX proportional to the amount that they commerce and relative to the full every day quantity on the trade.

Talking on the matter was Mark Lamb, CEO at Coinflex, who famous:

With FLEX Coin we wish to reward early merchants of the platform and construct loyalty utilizing a shared trade coin. […] We have now a rising set of excessive profile backers, a transparent roadmap for supply and are transferring nearer to our objective of serving to crypto futures buying and selling obtain its full potential.

Is Bakkt Lagging Behind?

Bodily-delivered bitcoin futures are on the core of one other a lot anticipated digital buying and selling platform — Bakkt. The thought behind physically-settled futures is that, on the time of the contract’s expiration, the dealer will obtain the underlying asset as a substitute of a cash fee.

The platform was speculated to go stay in December 2018, pending regulatory approval. As Bitcoinist reported, nevertheless, the US Commodity Futures Buying and selling Fee (CFTC) is anticipated to approve its Bitcoin-settled futures contract in some unspecified time in the future in the beginning of 2019 — which nonetheless hasn’t occurred.

Among the many newest updates on Bakkt is from Jan 14, when it made its very first acquisition with a view to develop compliance capabilities.

What do you consider Coinflex’s progress? Don’t hesitate to tell us within the feedback beneath! 

---

Photos courtesy of Shutterstock.

The put up Bakkt Competitor Coinflex Sees Investments From Polychain and Digital Forex Group appeared first on Bitcoinist.com.