CoinFLEX’s stablecoin flexUSD is now available to hundreds of financial institutions through Copper ClearLoop integration – Press Release Bitcoin News
Press release. Seychelles, November 15, 2021 —— CoinFLEXThe leading cryptocurrency trading and revenue platform, by integrating its ClearLoop instant settlement and trading network, cooperates with Copper.co, a global digital asset custody and trading solution provider.
The partnership expands CoinFLEX’s crypto income products to more institutional investors around the world, starting with flexUSD, which is the world’s first stable currency that earns interest. This partnership will help accelerate flexUSD to a market value of $1 billion in the first quarter of 2022. flexUSD is currently Pay 16% annual interest rate In the past 12 months, US$11 million in interest has been distributed to holders.
The partnership will enable Copper’s more than 300 institutional asset management companies to trade flexUSD on CoinFLEX, while safely storing their assets offline and off the exchange. The integration with ClearLoop adds an extra layer of regulatory assurance for institutional investors, while providing Copper’s customers with more crypto trading options. ClearLoop connects exchanges such as CoinFlex with traders and custodians-realizing a secure trading cycle through instant settlement. Investors can settle digital currency transactions off-exchange-no need to deposit and withdraw assets on the exchange in real time, to safely maximize capital efficiency.
“We are very happy to establish a partnership with CoinFLEX and trade for our customer base and profit from cryptocurrency revenue products such as flexUSD,” said Dmitry Tokarev, founder and CEO, Copper.co. “This is directly in line with our commitment to ensure that institutional investors are provided with a wide range of high-quality encryption products and can be traded efficiently and securely on the copper network. “
For the first time, Copper’s institutional customers can obtain a stable currency with high liquidity, easy redemption, and income generation through the Copper platform.
This integration is consistent with CoinFLEX’s efforts to advance the expansion plan to increase the adoption rate of institutional users. This symbolizes that the exchange is committed to expanding liquidity and innovating, developing and strengthening the CoinFLEX ecosystem.
CoinFLEX key milestones in the fourth quarter of 2021
- October 2021: CoinFLEX has a daily trading volume of US$8 billion, and holdings of more than US$350 million
- November 2021: The total amount of CoinFLEX repurchase market exceeds US$300 billion, pushing the market value of flexUSD to US$380 million
“Joining ClearLoop marks an important milestone for CoinFLEX as we begin to promote our business expansion plan to increase institutional users,” said CoinFLEX CEO Mark Lamb (Mark Lamb)“Through trading activities to increase the adoption rate of flexUSD, it will also increase the credibility and utility of stablecoins among institutional users, including hedge funds and asset management companies, while ensuring that they interact with us in a highly secure manner. “
Was established in 2018, copper Help institutions connect cryptocurrencies by providing custody, prime brokerage and settlement services across 250 digital assets and more than 40 exchanges. Copper’s unique crypto products and award-winning custody enable customers to securely acquire, trade, and store cryptocurrency, including the use of margin lending and trading facilities and DeFi space.
ClearLoop is the core of Copper’s infrastructure. It connects the extensive exchange network to a secure transaction loop and enables instant settlement through the network.
Was established in 2019, CoinFLEX It is the home of crypto income, dedicated to providing an easy-to-access platform for institutional and retail investors to earn and trade cryptocurrencies.
CoinFLEX has created innovative solutions that connect investors and the crypto market through intuitive revenue products, such as Flexible dollar, The world’s first stablecoin that earns interest, and ADM +, The world’s most capital efficient automated market maker. CoinFLEX is supported by crypto heavyweights, including Roger Ver, Mike Komaransky, Polychain Capital, and Dragonfly Capital.
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