CoinFLEX raises $10m in funding, launches Market Maker program

Cryptocurrency futures exchange CoinFLEX has raised $10m in its latest funding round and launched its Market Maker program.

The funding was supported by Polychain Capital, Fenbushi Capital, NGC Ventures, Struck Capital, and Divergence Digital Currency.

Its new Market Maker service is open to trading firms, hedge funds and institutions and will pay out up to $10m across a maximum of 10 qualifying firms. The participating companies will work with CoinFLEX to meet daily trade targets, with pay-outs given to those successful.

CoinFLEX is a physically delivered cryptocurrency futures exchange, developed to give avenues for retail investors to hedge cryptocurrency exposure with zero index or settlement manipulation risk. The company offers an API and trading tools to supply high-performance trading software.

Additionally, there is a sandbox where first-time investors are able to practice placing, executing, and cancelling order types and sizes.

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