CoinfloorEX to Launch BTC Futures

CoinfloorEX will be at least the fifth site that launched bitcoin futures, joining Bitmex, CryptoFacilities, CME Group and CBOE
15 March 2018   564

London-based crypto exchange CoinfloorEX, founded in 2013, announced bitcoin futures launch. The launch of the first contract should take place next month. This is reported by Reuters.

It is noteworthy that, unlike the products of competitors, the contracts of CoinfloorEX will be provided on terms of physical calculations, that is, all payments will be made in bitcoins. Futures of CME and CBOE provide all calculations in fiat.

Co-founder of CoinfloorEX Mark Lamb explained that the decision to create the product was made in response to the numerous requests of the clients of the trading platform.

When you talk to the liquidity providers, they all say the same thing, which is they want a physically delivered futures contract so they can hedge their exposure across exchanges.
 

Mark Lamb 

Co-founder, Coinfloor

Many trading companies and large investors fear that futures that are being traded in fiat can be an easy target for manipulation, since intruders can affect the price of the underlying asset in order to achieve the desired result, Lamb explained.

Thus, CoinfloorEX will be at least the fifth site that launched bitcoin futures, joining Bitmex, CryptoFacilities, CME Group and CBOE.

BitPay to Receive New York's BitLicense

Having received BitLicense, BitPay can now conduct business with New York-based companies and consumers
17 July 2018   101

The well-known cryptocurrency processing service BitPay obtained a license to work with virtual currencies in the state of New York. Known also as BitLicense, this license is issued by the New York Department of Financial Services (NYDFS) and grants its holders the ability to conduct activities related to cryptocurrencies in the state.

NYDFS has carefully studied the company's application, including its policy on measures to combat money laundering, customer identification, fraud prevention, cybersecurity. The financial situation of the company was also thoroughly analyzed.

New York state has one of the strictest policies around businesses involved in cryptocurrency and working through the approval processes to obtain a License was important to BitPay. We believe this hard work will pay off as New York presents significant business opportunities for BitPay.
 

Stephen Pair

CEO, BitPay

Having received BitLicense, BitPay can now conduct business with New York-based companies and consumers: the first will be able to use the company's processing services to accept payments in Bitcoin and Bitcoin Cash, the latter will pay for various goods and services using these two BitPay supported cryptos.

Note that BitPay was only the eighth company that received BitLicense. Other license holders are Square, Xapo, Genesis Global Trading, bitFlyer USA, Coinbase, Ripple and Circle. In addition, special permissions for operations with crypto-currencies are exchanged by Gemini and itBit.