CoinFLEX

🏢 Company profile and background

CoinFLEX (Coin Futures and Lending Exchange) is an exchange focused on cryptocurrency derivatives trading and yield products, aiming to provide efficient crypto asset trading and yield solutions for institutional and retail investors. Its core products include flexUSD, the world's first interest-bearing stablecoin, and AMM+, a capital-efficient automated market maker. Since its establishment, the company has been committed to connecting investors with the crypto market through innovative financial instruments, especially in the Asian market.

Founded in 2019 by Mark Lamb and Sudhu Arumugam, CoinFLEX was formerly associated with the UK-based crypto exchange Coinfloor. Mark Lamb has been working in the crypto industry since 2011 and has accumulated extensive trading and information technology experience. CoinFLEX's goal is to become the leading crypto derivatives exchange in the non-US market, improving market efficiency through products such as physically delivered futures. In 2023, CoinFLEX was acquired by Open Exchange, and the business gradually migrated to the OPNX platform, but its brand and some services remained operational.

📋 Basic information

Full name and abbreviation: The full name of CoinFLEX is Coin Futures and Lending Exchange, abbreviated as CoinFLEX.
Founded: April 16, 2019.
Country of registration: Seychelles.
Registered capital: The public information does not clearly disclose the specific amount of registered capital, and it is only known that it is registered in the form of a limited liability company.
English head office address: Mahe, Seychelles (the specific street address is not disclosed, and administrative operations are mainly carried out in Hong Kong).
Operational status: As of 2025, CoinFLEX is operational, but some of its operations have been integrated into the OPNX platform, and withdrawals were suspended in 2022 and gradually resumed.
Nature of company: privately owned and registered as a limited liability company (Liquidity Technologies Ltd., registration number 208853).
Sub-parent company: The parent company is Liquidity Technologies Ltd., and there is no publicly disclosed subsidiary information. On March 25, 2023, CoinFLEX was acquired by Open Exchange as part of its operations.

👨 💼 Key executive backgrounds

Mark Lamb (Founder & CEO):
Mark Lamb is the core founder of CoinFLEX and has been involved in the crypto industry since 2011, having co-founded Coinfloor, the UK's first Bitcoin exchange, and is known for its 100% cold storage and zero hacking record. He has extensive experience in information technology, trading and marketing, with deep insights into the Bitcoin and derivatives markets. Lamb's vision is to establish CoinFLEX as a leader in the physical delivery derivatives market.

Sudhu Arumugam (Co-Founder & Chief Risk Officer):
Sudhu Arumugam previously worked on the London Financial Futures Exchange as a floor trader before partnering with a number of proprietary trading firms and hedge funds. With a focus on derivatives trading and risk management, he has an in-depth understanding of the volatility and complexities of the crypto market.

Leslie Tam (Chief Strategy Officer):
Leslie Tam was responsible for account management and over-the-counter (OTC) trading at Binance, and gained experience in traditional finance such as Bank of America Merrill Lynch. His addition strengthens CoinFLEX's capabilities in strategic development and institutional client service.

James Cunningham (CTO):
A graduate of the University of Leeds with a background in mathematics and computer science, James Cunningham has worked in the algorithmic trading division of UBS and is a founding member of IVC Capital's high-frequency trading hedge fund. His technical expertise provides robust support for CoinFLEX's trading platform.

🤝

CoinFLEX's advisory team is not publicly disclosed, but its shareholders and strategic partners include a number of crypto industry heavyweights who act like advisors in strategy and marketing:

• Roger Ver: An early evangelist for Bitcoin, with a broad industry reach, involved in the strategic direction of CoinFLEX.

• Mike Komaransky: A veteran crypto market participant, active in the market since 2010, providing liquidity advice to CoinFLEX.

• Trading Technologies: Acting as a shareholder and front-end trading technology provider, providing technical advice to CoinFLEX on its global client expansion.

📊 The shareholding structure and shareholder

CoinFLEX are privately owned, and the specific shareholding ratio is not publicly disclosed. According to data such as PitchBook and Crunchbase, CoinFLEX raised a total of $37.2 million from investors including:

• Polychain Capital: a well-known crypto investment fund focused on blockchain and DeFi projects.

• Dragonfly Capital: An investment institution dedicated to bridging the crypto markets between the East and the West.

• Digital Currency Group (DCG): A leading investment group in the crypto industry with a portfolio spanning multiple exchanges.

• Bering Waters Ventures, Nascent Ventures, Electric Capital, and other venture capital firms.

• Market makers, such as Alameda Research, Amber AI, B2C2, and Grapefruit Trading, act as shareholders to ensure platform liquidity.

In March 2023, Open Exchange wholly acquired CoinFLEX, with a significant change in the shareholding structure, the details of which were not disclosed.

🏦 Enterprise classification

CoinFLEX belongs to the financial technology (FinTech) and blockchain industry, and is specifically classified as:

• cryptocurrency exchange: provides spot and derivatives trading services.

• Decentralized Finance (DeFi): Support yield generation and automated market making through products such as flexUSD and AMM+.

• Virtual Asset Service Provider (VASP): operates under the Seychelles regulatory framework and complies with the requirements for virtual asset services.

📈 Market segmentation

CoinFLEX is positioned in the global cryptocurrency derivatives market and serves

providing

• easy trading tools and high-yield products such as flexUSD.

• Institutional investors: Support highly leveraged derivatives trading and API solutions to meet the needs of professional trading.

• Asian market: With Hong Kong as the operation center, it focuses on developing retail and commercial transaction customers in Asia.

Its market competitors include BitMEX, OKX, Bybit, Gemini, and LedgerX, among others.

🛠️

CoinFLEX provides the following core services:

• spot trading: supports the buying and selling of multiple crypto assets such as Bitcoin (BTC), stablecoins (such as USDT, USDC) and more.

• Derivatives trading: including physical delivery futures, perpetual contracts and repo markets, with up to 250x leverage.

• Yield products: flexUSD is the world's first interest-bearing stablecoin, which pays interest on-chain every 8 hours; AMM+ is an efficient automated market maker tool.

• API Solution: Provides a low-latency trading interface for high-frequency traders and institutions.

• Mobile & Desktop Trading: Available on iOS, Android, and web, with an intuitive interface for both novice and professional traders.

⚖️ Regulatory information

is not strictly regulated: CoinFLEX is not authorized or regulated by top-tier financial regulators, such as the U.S. Securities and Exchange Commission (SEC), the U.K. Financial Conduct Authority (FCA), or the Hong Kong Securities and Futures Commission (SFC). The regulatory environment in Seychelles is considered to be "low to mid-level", lacking the stringent standards of top regulators such as the FCA or the US CFTC, which can lead to inadequate investor protection.

• Compliance requirements: Customer identity verification (KYC), anti-money laundering (AML) and counter-terrorist financing (CFT) checks are subject and data may be shared with third parties to meet regulatory requirements.

NOTE: THE UK'S FINANCIAL CONDUCT AUTHORITY (FCA) ISSUED A WARNING ON NOVEMBER 6, 2023, STATING THAT "COINFLEX TRADING" IS NOT AUTHORISED TO PROVIDE FINANCIAL SERVICES, ADVISING INVESTORS TO BE CAUTIOUS. It is not clear whether the entity is directly related to CoinFLEX, but this could be confusing.

💹 trading products

CoinFLEX's trading products include:

• spot market: supports trading of BTC, ETH, USDT, USDC and other crypto assets, with a trading fee of 0.03% (regardless of market maker or taker).

• Futures Contracts: Physically Delivered Futures, covering Bitcoin and other mainstream crypto assets, with up to 250x leverage.

• Perpetual Contract: A futures contract with no expiration date, suitable for long-term holdings.

• Repo Markets: Investors are allowed to access liquidity through short-term borrowing.

• Interest-bearing stablecoin (flexUSD): Interest is paid every 8 hours on-chain to enhance capital efficiency.

• AMM+: Automated market maker, optimized capital utilization, suitable for liquidity providers.

💻 trading software

CoinFLEX's trading platform supports the following software:

• Web: provides price charts, depth charts, order books, and order entry functions with an intuitive interface suitable for desktop users.

• Mobile: iOS and Android apps, support trading anytime, anywhere, and have the same functionality as the web terminal.

• API interface: REST and WebSocket APIs are provided for developers and high-frequency traders to support low-latency trading and data acquisition.

• Trading Technologies Front-end: Partnering with shareholder Trading Technologies to provide a professional futures trading interface to handle high-volume clients around the world.

The platform is designed with a focus on user experience and caters to both novice and professional traders, but the complexity of the interface can be a learning curve for beginners.

💸 Deposit and withdrawal methods

CoinFLEX's deposit and withdrawal methods are mainly cryptocurrencies, and do not support fiat currencies:

• deposit: support BTC, USDT, USDC and other crypto assets, transfer through wallet address or QR code, no deposit fees, only need to pay network fees.

• Withdrawals: Withdrawals via whitelisted addresses require two-step verification (2FA), a daily withdrawal limit of $10,000, no platform withdrawal fees, only network fees are deducted.

• Process: Deposits need to be confirmed by the blockchain network, withdrawals need to be verified by 2FA, and the processing time is usually instant or hours.

📞 customer support

CoinFLEX's customer support channels include:

• email: support mailbox is [email protected], 24/7 response.

• Telegram Community: The official English-language Telegram channel (@coinflex_EN) provides real-time updates and user communication.

• Online Help Center: The official website provides FAQs and how-to guides.

• KYC support: A dedicated CF Investor portal for creditors and new users to assist with identity verification and account migration.

Customer support is predominantly English-speaking and responsive, but there may be a slight delay during peak periods.

🔑 Core business and services

CoinFLEX's core business focuses on:

• derivatives trading: providing highly leveraged trading opportunities through physically delivered futures and perpetual contracts to meet the needs of institutional and retail customers.

• Yield generation: flexUSD and AMM+ provide investors with stable income and liquidity management tools to enhance capital efficiency.

• Market Liquidity: Work with market maker shareholders to ensure trading depth and tight spreads.

• Technology-driven: The API and Trading Technologies' front-end support high-frequency trading and large-scale client access.

Its service goal is to maximize the trading and profitability of crypto assets through innovative products and efficient technologies.

🖥️ Technical infrastructure

CoinFLEX's technical infrastructure includes:

• cold storage: 99% of assets are stored in cold wallets, and only the funds required for daily transactions are kept in hot wallets.

• Two-Step Verification (2FA): Mandatory enabled, non-SMS verification to improve account security.

• High-availability servers: Dedicated servers with the highest level of DDoS protection to ensure platform stability.

• 256-bit encryption: Website and transaction data are protected with Comodo-certified 256-bit encryption.

• Blockchain audits: Conduct regular on-chain balance audits to ensure fund transparency.

The platform has not reported any major security incidents, and the technical architecture is centered on security and scalability.

🛡️ Compliance and risk control system

Compliance measures:

• comply with the Seychelles Anti-Money Laundering Act 2017 and perform KYC and AML/CFT checks.

• Work with third-party compliance agencies to verify customer identity and transaction legitimacy.

• Responding to the Seychelles Government's VASP regulatory advisory launched in 2022 to ensure compliance with anti-money laundering and terrorist financing risk requirements.

Risk control system:

• stop-loss and take-profit tools: help traders set predetermined exit points and limit risks.

• Trailing Stop: Dynamically adjust the stop loss to optimize risk management.

• Sub-account function: isolate the leverage and balance of different accounts to reduce cross-risk.

• Whitelist Addresses: Restrict withdrawals to preset addresses to prevent unauthorized fund transfers.

🌐 Market Positioning & Competitive Advantage

Market Positioning: CoinFLEX is positioned as the world's leading crypto derivatives exchange, focusing on physical delivery products and yield solutions, targeting retail and institutional investors in Asia.

Competitive advantage:

• physical delivery futures: different from cash settlement, enhance transaction transparency and efficiency.

• Innovative products: flexUSD and AMM+ lead the way in yield generation and liquidity management.

• Shareholder support: Partnerships with market makers and Trading Technologies ensure liquidity and technology advantages.

• Low fees: 0.03% flat transaction fee, no platform fees for deposits and withdrawals.

• Security Record: No hacking or loss of funds since its inception.

🤗 Customer Support & EmpowermentCoinFLEX

empowers customers by:

• educational resources: The official website provides trading guides and product descriptions to help newbies get started quickly.

• Flexible trading tools: Support a variety of risk management tools, such as stop-losses and sub-accounts, suitable for traders of different experience levels.

• API support: Provide customized trading solutions for developers and institutions.

• Community interaction: Maintain communication with users through Telegram and social media to respond to needs in a timely manner.

Following the acquisition in 2023, CoinFLEX provides creditors with a CF Investor portal that streamlines the KYC and asset migration process, reflecting a customer-first philosophy.

🌱 Social Responsibility and ESG

CoinFLEX's ESG (Environmental, Social, Governance) disclosures are limited, but some of its initiatives reflect social responsibility:

• environment: Reducing the resource consumption of traditional finance through blockchain technology and supporting low-carbon transactions.

• Social: Promote financial inclusion by providing investors with stable income opportunities through products such as flexUSD.

• Governance: Comply with Seychelles regulatory requirements, regularly audit fund transparency, and maintain customer trust.

The company has not disclosed specific ESG strategies or philanthropic projects, and may need to strengthen disclosure in this regard in the future.

🤝 Strategic cooperation ecosystem

CoinFLEX's strategic partners include:

• Trading Technologies: providing front-end trading technology and global customer access support.

• Market makers: Alameda Research, Amber AI, B2C2, etc. ensure market liquidity.

• Investment institutions :P olychain Capital, Dragonfly Capital, etc., provide funding and strategic guidance.

• OPNX: After the acquisition, CoinFLEX will integrate with OPNX to share technology and customer resources.

These collaborations enhance CoinFLEX's technical capabilities, market reach, and brand presence.

💰 Financial health

CoinFLEX's financial information is not fully public, but its health can be inferred from the following data:

• total funding: $37.2 million raised as of 2023, including top crypto funds.

• Trading volume: The average daily trading volume in 2021 was about $43 million, indicating a certain level of market activity.

• Acquisition: Acquired by Open Exchange in 2023, demonstrating the value of its brand and assets.

• Operational challenges: The suspension of withdrawals in 2022 may have impacted customer trust, but subsequent resumption of operations has shown some financial resilience.

Specific revenue, profit or debt data are not disclosed, and financial health needs to be further observed.

🚀 future roadmap

CoinFLEX's future development plans include:

• business integration: continue to migrate to the OPNX platform to optimize user experience and asset management.

• Product expansion: Develop more income products and derivatives to enhance market competitiveness.

• Regulatory Compliance: Respond to changes in the Seychelles VASP regulatory framework and improve compliance capabilities.

• Expansion in Asia: Focusing on Hong Kong, further penetration into the Asian retail and institutional markets.

• Technology upgrades: Enhanced API and mobile functionality to attract more high-frequency traders and developers.