Physically delivered crypto futures trading contracts on CoinFlex are now available to traders outside of the US through Trading Technologies International Inc, a global trading infrastructure and data solution provider based in Singapore. The announcement of the connection between the two platforms came on May 20.
Trading Technologies users who are eligible to access CoinFlex through the platform will also be granted access to CoinFlex’ stablecoin-to-stablecoin futures contract, which pins Tether Dollars (USDT) against Circle’s USD Coin (USDC.)
NEWS: Connectivity to @CoinFLEXdotcom is now available to eligible professional and retail traders outside the U.S. through the TT platform, providing access to the world’s first physically delivered stablecoin-to-stablecoin futures contract. https://t.co/tDEA46yO5u
— Trading Technologies (@Trading_Tech) May 20, 2019
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Trading Technologies’ Five-Continent User Base Could Be a Great Boon for CoinFlex, depending on Who’s Eligible
CoinFlex will be accessible to Trading Technologies users in most of the countries that it is available in. “CoinFLEX provides a list of about 20 prohibited countries, of which the U.S. is the largest, so CoinFLEX will be open to almost all TT customers outside of the U.S,” said Michael Unetich, VP of Cryptocurrency at Trading Technologies, in an email to Finance Magnates.
“CoinFLEX is the world’s first crypto exchange offering physically delivered futures; this means the price of the future can remain true because of the ability to take it to delivery and convert to spot,” he added. “It’s an ideal marketplace for directional speculators, relative-value traders, long-only funds interested in yield enhancement, and multiple types of crypto end-users. We’re very bullish on their prospects for success and excited to further extend the TT screen into the crypto world as their exchange front-end. ”
CoinFlex CEO Mark Lamb said that in addition to retail traders, “access to CoinFLEX through TT will also be available to commercial hedgers, including mining firms, OTC trading desks and global proprietary trading firms, many of whom are already using TT’s toolset.”
CoinFlex was launched in February of this year and offers futures contracts with up to 20x leverage for Bitcoin, Bitcoin Cash, Ethereum, and Circle Coin pinned against Tether Dollars. Its investors include Polychain Capital and Digital Currency Group (DCG.)
At the time of Polychain’s decision to invest, CEO Olaf Carson-Wee said that “as a physically-settled futures exchange, CoinFLEX will be well positioned to capture significant order flow from speculators, institutional traders and Proof of Work miners seeking to hedge against crypto price volatility and hash rate volatility.”
Coinflex and Trading Technologies International Incorporated are owned by a single consortium that includes Dragonfly Capital Partners, Global Advisors, Alameda Research, Amber AI, Grapefruit Trading, Coinfloor, crypto trader Mike Komaransky, and several other entities.