CoinFLEX Sets Up Short-Term Lending Facility for Crypto Traders

Cryptocurrency futures exchange CoinFLEX is setting up a blockchain-based market for unsecured lending as the digital currency boom continues.

Firms can borrow U.S. dollars and Bitcoin for short-term trading purposes, with the note tokens expected to offer a yield of 8% to 10%, according to a CoinFLEX statement and Chief Executive Officer Mark Lamb. Lenders will also be compensated with 30% of the borrower’s trading fees for the first 12 months, the statement showed.