CoinFLEX, crypto exchange and yield platform, has partnered with Copper.co, a digital asset custodian, by integrating with ClearLoop, Copper’s unique instant settlement trading network.
This partnership will open the gateway for institutional investors to access flexible crypto yield products, including flexUSD, accelerating the stablecoin to a USD1 billion market cap by Q1 2022.
Over 300 institutional asset managers at Copper will be able to use CoinFLEX’s interest-earning stablecoin, flexUSD, as collateral to trade on exchange while securely storing their assets offline and off the exchange. CoinFLEX’s integration with ClearLoop is paramount because it adds an extra layer of regulatory assurance for institutional traders, while enabling this segment with a wider range of crypto trading options.
For the first time, Copper’s institutional clients can access a highly liquid, easily redeemable, yieldgenerating stablecoin via the Copper platform. flexUSD is the first interest-earning stablecoin pegged 1:1 with USDC that pays holders interest every 8 hours on-chain — meaning users can hold flexUSD in a cold wallet and still earn interest. flexUSD is currently paying 16 per cent APY and has distributed USD11 million in interest to holders in the past 12 months.
This integration aligns with CoinFLEX’s business expansion plans to enlarge institutional user adoption further, symbolising its commitment to innovate, develop, and strengthen its ecosystem, whilst enhancing liquidity within CoinFLEX.
