A new company has entered the race to provide physically delivered Bitcoin futures . CoinFloorEX, which is now called Coin Futures and Lending Exchange (CoinFLEX), is planning on offering derivatives for some of the largest cryptos to asian retail investors, from February. This venture is being pushed by Roger Ver and Trading Technologies International Inc, and also CoinFloor itself, which is the oldest Bitcoin exchange United Kingdom .
CoinFLEX will offer futures contracts for Bitcoin, Bitcoin Cash, and Ethereum and will offer up to 20x leverage on these derivative products.
Bitmex is currently the leading crypto leverage exchange, but CoinFLEX’s notoriety, in combination with their intent to offer similar derivatives, may end up being first major source of competition within the crypto space for Bitmex.
The major distinction for CoinFLEX is they will be settling in physically delivered cryptos for profitable trades.
It will be very interesting to see how the first to market, physically delivered Bitcoin futures exchange is accepted by the crypto community. We are sure that Bakkt and ErisX will be watching closely to see the trials and tribulations of this startup’s entrance into the cryptosphere .
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