{"id":16631,"date":"2019-08-27T00:00:00","date_gmt":"2019-08-27T00:00:00","guid":{"rendered":"https:\/\/crypto-economy.com\/bitcoin-btc-coinflex-raises-10m-to-launch-physically-settled-bitcoin-futures-for-asian-market\/"},"modified":"2019-08-27T00:00:00","modified_gmt":"2019-08-27T00:00:00","slug":"bitcoin-btc-coinflex-raises-10m-to-launch-physically-settled-bitcoin-futures-for-asian-market","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/bitcoin-btc-coinflex-raises-10m-to-launch-physically-settled-bitcoin-futures-for-asian-market\/","title":{"rendered":"Bitcoin [BTC] \u2013 CoinFLEX Raises $10M to Launch Physically Settled Bitcoin Futures for Asian Market"},"content":{"rendered":"
CoinFLEX<\/a> <\/strong>, a Hong Kong-based cryptocurrency futures exchange has landed a $10 million war chest from Bitcoin.com chairman Roger Ver<\/a><\/strong>, Polychain Capital, NGC Ventures and Divergence Digital Currency. The exchange is expanding its service to offer physically delivered bitcoin futures contracts for the Asian market.<\/p>\n CoinFLEX CEO Mark Lamb<\/strong> stated that his exchange is now the world\u2019s first exchange to offer a physical delivery for Bitcoin (BTC) futures<\/a> <\/strong>contracts. According to Lamb, the bitcoin market is facing a steeper challenge of handling price manipulations and the launch of a physically-settled bitcoin futures contract is meant to alleviate this challenge especially for retail investors and traders.<\/p>\n Lamb said that \u201cProfessional and retail traders alike are affected by price manipulation in the cash-settled futures market. In physically delivered contracts, anyone long at expiry receives the underlying bitcoin. There are no formulas involved.\u201d<\/em><\/p>\n Physically settled bitcoin contracts will allow the traders to receive the underlying coins once the contract expires which means that the coins that were stated at the start of the contract are the same coins that will be delivered. There is no conversion of the coins involved in the settlement which is unlike most markets in the United States and other regions.<\/p>\n