Falcon X participates in CoinFLEX’s Note Token program, launching FalconXUSD

CoinFLEX is excited to announce the addition of FalconX as the most recent participant of CoinFLEX’s newly launched promissory note program. FalconX is an all-in-one platform for institutions looking to trade, custody and clear cryptocurrency, most notably backed by American Express Ventures and Accel.
CoinFLEX aims to address the growing demand for un-collateralised borrowing – creating promissory note tokens to allow institutional firms to borrow and lend capital with complete transparency removing disintermediation. The promissory note is then tokenized and lenders are given the opportunity to bid on the note. The note also has the ability to trade in secondary markets via order books on CoinFLEX.com. The lender that holds the note token also receives 30% of the borrower’s trading fees, which in turn, incentivizes them to lend at  lower coupon rates. 
CoinFLEX trades $125-150m a day in average trading volumes, with their innovative repo product volumes surpassing $2bn since inception. CoinFLEX is Hong Kong based and founded by teams that have been running crypto exchanges for over 8 years and derivatives expertise from both the traditional and crypto markets.
In addition to a fully transparent repo market, CoinFLEX rolled out an interest bearing stablecoin, flexUSD, which since launch in the last 2 months has more than $30 million minted with on-chain paid daily interest on-chain of roughly 5 – 25% APY.
FalconX joins Efficient Frontier, Grapefruit Trading and Mountainville. 
О Coinflex
Founded in 2019 by Mark Lamb and Sudhu Arumugam, CoinFLEX (Coin Futures and Lending Exchange) is the world’s first interest-bearing stablecoin platform, developed to  connect savers earning interest and leveraged derivatives traders.
[email protected]
About Falcon X
FalconX is building a connecting tissue for the tokenized economy of the future. As an all-on-one solution, its technology currently enables hundreds of institutions to transact billions of dollars in cryptocurrency trading, credit, and clearing. The company is backed by Accel, Accomplice VC, American Express Ventures, Coinbase Ventures, Fenbushi Capital, Flybridge Capital Partners, Lightspeed Venture Partners, and Avon Ventures. FalconX has offices in the US, India, and Malta. For more information visit falconx.io.

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