Press release
PRESS RELEASE. SEYCHELLES, November 15, 2021 – CoinFLEX, the leading crypto exchange and performance platform, has partnered with Copper.co, a global digital asset custodian and trading solutions provider by integrating into their trading network of ClearLoop instant settlement.
The partnership extends CoinFLEX’s crypto yield products to more institutional investors globally, starting with flexUSD, the world’s first interest-earning stablecoin. This partnership will help accelerate flexUSD to a market cap of US $ 1 billion by the first quarter of 2022. flexUSD is currently paying 16% APY and has distributed $ 11 million in interest to holders over the past 12 months.
The partnership will allow Copper’s more than 300 institutional asset managers to trade flexUSD on CoinFLEX while securely storing their assets offline and off the exchange. Integration with ClearLoop adds an additional layer of regulatory assurance for institutional investors, while providing more crypto trading options for Copper’s clients. ClearLoop connects exchanges like CoinFlex to traders and custodians, enabling a secure trading loop, with instant settlement. Investors can settle digital currency transactions over-the-counter, eliminating the need to deposit and withdraw assets from an exchange in real time, thus safely maximizing capital efficiency.
“We are delighted with this partnership with CoinFLEX and that our customer base is trading and earning through a crypto yield offering such as flexUSD,” said Dmitry Tokarev, Founder and CEO, Copper.co. “This directly aligns with our commitment to ensuring 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 tradable, and yield-generating stablecoin through the Copper platform.
This integration is in line with CoinFLEX’s efforts to advance expansion plans for greater adoption by institutional users. This symbolizes the exchange’s commitment to amplify liquidity and to innovate, develop and strengthen the CoinFLEX ecosystem.
CoinFLEX Q4 2021 Key Milestones
- October 2021: CoinFLEX Reached US $ 8 Billion In Daily Trading Volume With Open Interest Over US $ 350 Million
- November 2021: Total CoinFLEX Repo Market Volume Exceeds US $ 300 Billion, Bringing FlexUSD Market Cap to US $ 380 Million
“Joining ClearLoop marks an important milestone for CoinFLEX as we begin to advance our business expansion plans to increase the number of institutional users,” said Mark Lamb, CEO of CoinFLEX. “By improving the adoption of flexUSD through trading activities, it will also build credibility and increase the usefulness of stablecoin among institutional users, including hedge funds and asset managers, while ensuring that they have a highly secure way to interact with us. “
About copper
Founded in 2018, Copper helps institutions connect with crypto by providing custody, prime brokerage, and settlements on 250 digital assets and over 40 exchanges. Copper’s unique crypto products and multi-award-winning custody allow clients to securely acquire, trade and store cryptocurrencies, including access to margin loan trading facilities and the ‘DeFi space.
ClearLoop is at the heart of Copper’s infrastructure and connects a vast network of exchanges in a secure trading loop and with instant settlement over networks.
About CoinFLEX
Founded in 2019, CoinFLEX is the home of crypto yield and is committed to providing institutional and retail investors with an easily accessible platform to earn and trade cryptos.
CoinFLEX Creates Innovative Solutions To Bring Investors And Crypto Markets Together With Intuitive Yield Products Like FlexUSD, The World’s First Interest-Generating Stablecoin, And AMM +, The World’s Most Capital Efficient Automated Market Maker . CoinFLEX is backed by crypto heavyweights including Roger Ver, Mike Komaransky, Polychain Capital, and Dragonfly Capital.
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