PRICE RELEASE SEYCHELLES. 15 November 2021 – CoinFLEX, leading crypto exchange and yield platform, has partnered with Copper.co, a global digital asset custodian and trading solutions provider by integrating with their ClearLoop instant settlement trading network.
The partnership expands CoinFLEX’s crypto yield products to more institutional investors globally, starting with flexUSD, the world’s first interest-earning stablecoin. This partnership will allow flexUSD, which currently has a 16% APY rate and has already paid out $11 million to its holders in interest for the past twelve months.
The partnership will enable Copper’s 300+ institutional asset managers to trade flexUSD on CoinFLEX while securely storing their assets offline and off the exchange. The integration with ClearLoop adds an extra layer of regulatory assurance for institutional investors, while providing more crypto trading options to Copper’s clients. ClearLoop connects exchanges like CoinFlex to traders and custodians – enabling one, secure trading loop, with instant settlement. Investors can settle digital currency transactions off-exchange – eliminating the need to deposit and withdraw assets from an exchange in real-time, securely maximizing capital efficiency.
“We are excited for this partnership with CoinFLEX, and for our client base to trade and earn from a crypto yield offering such as flexUSD,” said Dmitry Tokarev CEO and Founder, Copper.co. “This directly aligns with our commitment to ensure that institutional investors are offered a wide range of quality crypto products and can trade efficiently and securely on the Copper network.”
For the first time, Copper’s institutional clients can access a highly liquid, easily redeemable, yield-generating stablecoin via the Copper platform.
This integration is inline with CoinFLEX’s efforts to advance expansion plans for greater institutional user adoption. This symbolizes the exchange’s commitment to amplify liquidity and innovate, develop, and strengthen the CoinFLEX ecosystem.
CoinFLEX Q4 2021 milestones
- October 2021CoinFLEX achieved US$8 Billion in daily trading volume, with open interest surpassing US$ 350 Million
- November 2021: CoinFLEX’s total repo market volume exceeds US$300 billion, pushing flexUSD’s market cap to US$380 million
“Joining ClearLoop marks a major milestone for CoinFLEX as we begin to push our business expansion plans to increase institutional users,” said Mark Lamb is the CEO of CoinFLEX. “By enhancing the adoption of flexUSD through trading activities, it will also propel the credibility and increase the utility of the stablecoin across institutional users including hedge fund and asset managers whilst ensuring that they have a highly secure way of interacting with us.”
More about Copper
Copper, founded in 2018, offers prime brokerage, custody and settlements for more than 250 digital assets. Copper’s unique crypto products and multi-award-winning custody allows clients to safely acquire, trade, and store cryptocurrencies, including access to margin lending trading facilities and the DeFi space.
ClearLoop is at the core of Copper’s infrastructure and connects a broad network of exchanges together in one secure trading loop and with instant settlement across networks.
CoinFLEX was founded in 2019 and is dedicated to offering institutional and retail investors easy access to crypto trading and earnings.
CoinFLEX creates innovative solutions to bring investors and crypto markets together through intuitive yield products such as flexUSD, the world’s first interest-earning stablecoin, and AMM+, the most-capital efficient automated market maker in the world. CoinFLEX has been backed by Crypto Heavyweights such as Mike Komaransky (Polychain Capital), Dragonfly Capital and Roger Ver.
Telegram| Twitter Youtube | Discord | LinkedIn | Facebook | Youtube | Reddit
This press release is for informational purposes only. The promoted company and any affiliates are to be vetted by readers before they take any action. Bitcoin.com cannot be held responsible for any loss or damage caused, directly or indirectly by, the use or reliance of any content, goods and services mentioned in the press releases.
Credit for the imageShutterstock. Pixabay. Wiki Commons