Miami-based company bullish about US stablecoin regulations
MIAMI, April 28, 2022 /PRNewswire/ -- CoinFLEX.US launches today as a subsidiary of CoinFLEX, a leading crypto yield platform and futures exchange, representing a key milestone for establishing its presence in the US. Headquartered in Miami, CoinFLEX.US aims to grow into a team of 40 by year end to accommodate the surging demand for crypto yield and passive income in the market. The primary focus during the rollout is growing the mass adoption of their interest-earning stablecoin, flexUSD.
CoinFLEX.US will initially offer their flagship products and services to retail and institutional users across 49 states, except New York, via Prime Trust, a Nevada trust company that is regulated by FinCEN and relied on by many other leading global exchanges. This includes:
Interest Earning: US users can earn yield on their dollars every 8 hours on the blockchain via CoinFLEX's interest-earning stablecoin flexUSD;
flexUSD Minting: Mint and redeem flexUSD three times a day with zero fees; convertible 1:1 with USDC or USD anytime;
Zero-fee Spot Trading: Trade over 30 cryptos with zero fees including BTC, ETH, BCH and FLEX; all pairs will trade against flexUSD.
CoinFLEX has rapidly expanded its ecosystem since it was founded in 2019, achieving over $1 trillion in trading volume and $400 million in flexUSD market cap in 2022. As CEO of CoinFLEX, Mark Lamb has a decade-long experience in running crypto exchanges, which offers the assurance to US investors to trade and earn crypto yield on a safe platform. As of March 2022, total flexUSD interest paid to holders approached $30 million.
Mark Lamb, Co-founder and CEO of CoinFLEX, said:
"CoinFLEX is bringing flexUSD to the world so that everyone can experience the benefits of earning interest while having access to the world class payment system that is the blockchain. The US has been an enormous crypto hub and with the recent Executive Order and bills like the Stablecoin TRUST Act, we see a country that is embracing crypto and stablecoins in a big way. flexUSD gives Americans direct and transparent access to the best of crypto yields, while allowing them to retain full control over their funds. We are thrilled to introduce flexUSD to Americans across the country."
CoinFLEX.US is committed to being a transparent and secure trading platform for yield-generation, and adheres to US regulations by complying with know-your-customer (KYC) measures. Users can access information about flexUSD, including the latest 7-day average APY and historical interest payments anytime on https://coinflex.us.
Sudhu Arumugam, Co-founder of CoinFLEX, said:
"Our recent trip to the Bitcoin conference in Miami was invigorating. The remarkably wide-spread adoption of cryptocurrencies sends a strong signal that this is an ideal moment for CoinFLEX to enter the US market. By setting up base in the 'next tech hub in the country' - as Mayor Francis Suarez puts it - the city empowers innovators and crypto enthusiasts like us to continue our work in building the future of finance. Our conversation with Suarez also fortified CoinFLEX's commitment to expand our platform in this market."
CoinFLEX.US' strategic brand campaigns will be led by Leslie Lamb, Chief Marketing Officer of CoinFLEX. They have secured long-term partnerships with key individuals to promote the launch, including the company's first global brand ambassador Doug Polk, a world-class poker player, and the Big Swinging Decks Podcast, a top 1% business podcast, by financial media brand Litquidity. The launch of CoinFLEX.US, in addition to the company's latest partnership with Bitcoin.com, is in line with CoinFLEX's global expansion plans.
CoinFLEX.US, a US-registered subsidiary of CoinFLEX, is a crypto yield platform and exchange, offering US crypto investors the opportunity to easily trade, mint, and earn crypto. By introducing the world's first interest-earning stablecoin, flexUSD, to the US market, CoinFLEX.US aims to bring sustainable crypto yield opportunities directly to retail and institutional traders.
Founded in 2019, CoinFLEX is the Home of Crypto Yield and is committed to providing institutional and retail investors an easily accessible platform to earn and trade crypto.
CoinFLEX creates innovative solutions to bring investors and crypto markets together through intuitive yield products such as flexUSD, the world's first interest-earning stablecoin, and AMM+, the most capital-efficient automated market maker in the world. CoinFLEX is backed by crypto heavyweights, including Roger Ver, Mike Komaransky, Polychain Capital, Dragonfly Capital, DDC, DRW, and Grapefruit Trading.
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