Bitcoin Futures Launch In The UK
Coinfloor has announced that its cryptocurrency exchange group will now include Coinfloorex, an exchange of bitcoin futures. By offering “institutional grade risk management and management”, operators, hedge funds and miners will obtain bitcoin futures “at scale” through “specifically designed cryptocurrency contracts and operational controls”.
Coinfloor launches Bitcoin physical futures
“Our mission is to build a bridge between the Fiat currency and the cryptocurrency,” said Obi Nwosu, CEO of Coinfloor, “to promote the stability and sustainability of cryptocurrency.” Numerous market participants are requesting exchanges of existing cryptocurrencies that offer futures contracts to move from cash to physical settlement. However, making that transition will be very difficult to achieve for them. We understand this requirement from the beginning and have worked for more than two years to bring this functionality to the market. Now, institutional investors and traders can capitalize on market dynamics, within their own risk parameters and in line with their individual trading strategies. ”
As such, Coinfloor claims to have launched the “first physically delivered cryptocurrency futures contract” through its new cryptographic exchange, Coinfloorex. The contracts were “created to protect investors and traders against slippage in positions at the time of liquidation, as well as market manipulation concerns.”
The company is known in the ecosystem, and has been present since the beginning of 2013, using a cryptographic exchange model of peer to peer. Brokers examined by Bitcoin are connected to bitcoin investors. By using a local bank, buyers can send money directly to sellers. They were also the first to adopt the normal two-step conversion solution between fiat and bitcoin. Coinfloor was one of the first to try a bargaining model without fees, but later restored the rates at the end of last year. He also continues to play an active role in wooing regulators to take cryptography seriously.
Innovation this time seems to be the “physical delivery” aspect of bitcoin futures. “Liquidation is based on physical delivery rather than an index price of other exchanges, which provides maximum price transparency.” Access to Coinfloor’s spot exchange allows investors to easily convert Bitcoin into post-physical delivery. Fiat currency, creating opportunities for the appreciation of the currency in the long term or by fulfilling obligations denominated in Bitcoin, “explained the company.
For any encryption exchange, hacking is a problem. Anticipating such concerns, “the security of the exchange is reinforced by the custody of cryptocurrencies cold storage with 100% multiple signature
ease, safeguarding clients’ portfolios of theft, loss or other security issues associated with the storage of assets partially online or online. Coinfloor also offers monthly solvency audits of Bitcoin balances, which gives institutional investors the assurance that Coinfloorex has enough Bitcoin liquidity to manage market fluctuations, “the announcement said.
Ultimately, the product is aimed at the more sophisticated “sophisticated investors”. April of this year is the date on which the physical delivery of the bitcoin futures contract (XBT) will be made.