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CoinFLEX’s Stablecoin flexUSD Now Obtainable to Lots of of Monetary Establishments With Copper ClearLoop Integration

11/16/2021

PRESS RELEASE. SEYCHELLES, 15 November 2021 – CoinFLEX, main crypto change and yield platform, has partnered with Copper.co, a worldwide digital asset custodian and buying and selling options supplier by integrating with their ClearLoop prompt settlement buying and selling community.

The partnership expands CoinFLEX’s crypto yield merchandise to extra institutional traders globally, beginning with flexUSD, the world’s first interest-earning stablecoin. This partnership will assist speed up flexUSD to a US$1 billion market cap by Q1 2022. flexUSD is presently paying 16% APY and has distributed $11 million in curiosity to holders over the previous 12 months.

The partnership will allow Copper’s 300+ institutional asset managers to commerce flexUSD on CoinFLEX whereas securely storing their belongings offline and off the change. The combination with ClearLoop provides an additional layer of regulatory assurance for institutional traders, whereas offering extra crypto buying and selling choices to Copper’s shoppers. ClearLoop connects exchanges like CoinFlex to merchants and custodians – enabling one, safe buying and selling loop, with prompt settlement. Buyers can settle digital foreign money transactions off-exchange – eliminating the necessity to deposit and withdraw belongings from an change in real-time, securely maximizing capital effectivity.

“We’re excited for this partnership with CoinFLEX, and for our shopper base to commerce and earn from a crypto yield providing reminiscent of flexUSD,” mentioned Dmitry Tokarev, Founder and CEO, Copper.co.This immediately aligns with our dedication to make sure that institutional traders are provided a variety of high quality crypto merchandise and may commerce effectively and securely on the Copper community.”

For the primary time, Copper’s institutional shoppers can entry a extremely liquid, simply redeemable, yield-generating stablecoin by way of the Copper platform.

This integration is inline with CoinFLEX’s efforts to advance enlargement plans for larger institutional consumer adoption. This symbolizes the change’s dedication to amplify liquidity and innovate, develop, and strengthen the CoinFLEX ecosystem.

CoinFLEX This autumn 2021 key milestones

  • October 2021: CoinFLEX reached US$8 billion in every day buying and selling quantity with open curiosity exceeding US$ 350 million
  • November 2021: CoinFLEX’s complete repo market quantity exceeds US$300 billion, pushing flexUSD’s market cap to US$380 million

“Becoming a member of ClearLoop marks a significant milestone for CoinFLEX as we start to push our enterprise enlargement plans to extend institutional customers,” mentioned Mark Lamb, CEO of CoinFLEX. “By enhancing the adoption of flexUSD by buying and selling actions, it would additionally propel the credibility and improve the utility of the stablecoin throughout institutional customers together with hedge fund and asset managers while making certain that they’ve a extremely safe means of interacting with us.”

About Copper

Based in 2018, Copper helps bridge establishments into crypto by providing custody, prime brokerage, and settlements throughout 250 digital belongings and greater than 40 exchanges. Copper’s distinctive crypto merchandise and multi-award-winning custody permits shoppers to soundly purchase, commerce, and retailer cryptocurrencies, together with entry to margin lending buying and selling amenities and the DeFi area.

ClearLoop is on the core of Copper’s infrastructure and connects a broad community of exchanges collectively in a single safe buying and selling loop and with prompt settlement throughout networks.

About CoinFLEX

Based in 2019, CoinFLEX is the Residence of Crypto Yield and is dedicated to offering institutional and retail traders an simply accessible platform to earn and commerce crypto.

CoinFLEX creates progressive options to convey traders and crypto markets collectively by intuitive yield merchandise reminiscent of flexUSD, the world’s first interest-earning stablecoin, and AMM+, the most-capital environment friendly automated market maker on the earth. CoinFLEX is backed by crypto heavyweights, together with Roger Ver, Mike Komaransky, Polychain Capital, and Dragonfly Capital.

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