UK’s Coinfloor Plans to Release World’s First Physically Delivered Bitcoin Futures
A UK-based crypto trading platform is almost to become the first of its kind platform that will physically deliver Bitcoin futures contracts.
CoinfloorEX- the new project
The CEO of Coinfloor Mark Lamb, has revealed Boca Raton Florida about its new crypto exchange called CoinfloorEX. This one is dedicated to “traders, hedge funds, proprietary trading firms and also a select group of retail investors as well as cryptocurrency miners”, according to Coinfloor.
“When you talk to the liquidity providers, they all say the same thing, which is they want a physically delivered futures contract so they can hedge their exposure across exchanges”, stated the CEO during a presentation at the Futures Industry Association Conference.
Although there are already crypto futures exchanges on the market offering futures services, they differ from the new project proposed by Coinfloor. The traditional ones are paying in cash, so, that crypto assets transactions will be managed without intermediaries.
The CEO of the company explained how traditional firms are mistakenly operating with futures contracts. It has argued that real estate deals by specialized firms can easily be manipulated by the elasticity of market prices and stock market bids.
Coinfloor made buying Bitcoin simple
The largest Bitcoin exchange based in London has already known success when the company has launched the first trading platform-backed Bitcoin Marketplace- Coinfloor Market in July 2015.
The Coinfloor Market has created a secure business environment for investors who want to trade Bitcoin in the UK. All users benefit from direct online interaction with a Coinfloor Market Broker who has the ability to quickly and securely transfer Bitcoin to Sterling as well as reverse from Coinfloor Exchange.
Mark Lamb has characterized the architecture of Coinfloor Market as “committed to a decentralized network of brokers backed by a centralized exchange, Coinfloor is the first institution in the Bitcoin industry to mirror this proven model.”
Coinfloor focuses a lot on protection of users’ information and crypto assets. Bitcoins are considered to be kept 100% on the secured and encrypted cold storage. Coinfloor exist on the marketplace since 2013 and now is waiting to launch the first physically delivered Bitcoin futures in April 2018.