The ecosystem was rocked recently when Bloomberg broke the story of a consortium based out of Hong Kong. Roger Ver, Trading Technologies, and Coinfloor joined to announce a new venture, CoinFLEX. It’s a crypto exchange incorporated offshore, focused on Asian retail investors. The exchange promises the first of its kind physically delivered Bitcoin Cash futures, along with Bitcoin Core (BTC) and Ethereum — no fiat, and they’ll also introduce other twists as revealed in this fascinating podcast episode of Milk. We managed to snag the CEO, Mark Lamb, and talk to him about how it all came together and what it means for the crypto community.
Bitcoin Cash Physically Settled Futures: CoinFLEX CEO Mark Lamb
It was his first full day promoting CoinFLEX, and CEO Mark Lamb didn’t look at all like he should. He was refreshed, sipping from a coffee, in his Hong Kong office with a beautiful skyscraper as background. He’d also just hours before gone on international television, and was promptly grilled by hosts who appeared shocked such a bold venture was to be birthed during a decidedly horrible crypto market.
My first thought when he accepted a Milk interview was Lamb would be toast: tired, frazzled. Instead, he was happy to talk about the project and its genesis. Turns out he is a crypto veteran, something on the order of six years in the space — a veritable lifetime, considering.
He comes from the longest running crypto exchange in the UK, Coinfloor. It was there he co-founded a market maker that would work within the strict confines of the country’s regulator, the FCA. That appears to have been pretty great training for his current gig.
In this episode of Milk, Lamb and I discuss why this exchange and why now. We get into the weeds a bit about the exchange’s offshore incorporation, its focus on Asian investors, how they plan to offer an underlying asset that is not fiat, and the implications of eventual leverage to the tune of 20X.
Find other great Milk episodes on iTunes.
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