As reported by Bloomberg, an up-and-coming crypto startup named CoinFLEX are taking on the crypto exchange behemoths of Bakkt and BitMEX, with the offering of physically settled crypto futures contracts with 20x leverage.
Headquartered in Hong Kong, this newfound contender was formerly a unit of the UK Bitcoin exchange Coinfloor, but is now branching out as its own crypto exchange.
CoinFLEX is said to be a promising startup, and should not to be overlooked, as it’s backed by Bitcoin Cash leader Roger Ver, as well as Trading Technologies International, a prominent trading software company. Also, the exchange’s chief executive is Mark Lamb, the co-founder of Coinfloor and crypto veteran of 6 years.
Lamb was recently interviewed by Bloomberg, and he expressed the importance of physical crypto derivatives. He explained that this market will be far bigger than spot markets, stating:
“Crypto derivatives could become an order of magnitude larger than spot markets and the main…