Polychain Capital Invests In CoinFLEX Crypto Platform
CoinFLEX, a company offering bitcoin futures contracts in the market, has received investments from Digital Currency Group (DCG) and Polychain Capital, large venture capital firms. The amount of received funds is not reported. This information was published in a press release of CoinFLEX.
The main office of CoinFLEX is located in Hong Kong, although the company is officially registered in Seychelles and is considered part of CoinFloor Group from the UK.
CoinFLEX offers its customers futures contracts for the first cryptocurrency with physical delivery. Moreover, in February 2019, a platform was launched with the possibility of trading crypto futures in pair with the Tether stablecoin with twenty-fold leverage.
In the near future, CoinFLEX is going to launch deliverable futures contracts in pairs with two different stablecoins. The platform will use its FLEX Coin to encourage the most active users. The amount of remuneration will depend on the daily trading volume. Tokens can be used to receive discounts on commission payments.
CoinFLEX can be considered as a competitor of another bitcoin futures company — Bakkt. The launch date was postponed several times, while earlier it was reported that Intercontinental Exchange (ICE), the New York Stock Exchange parent company, intends to invest from $20 to $25 million in Bakkt by the end of 2019.