Despite the cryptocurrency market taking a serious beating the past few months, the U.K has just announced some big news. Coinfloor, a London-based cryptocurrency exchange, announced that it would be starting its own Bitcoin (available on Coinbase) futures exchanged named CoinfloorEX. This new exchange will offer Bitcoin (available on Coinbase) futures “at scale” through their own specific contracts and operational controls. The futures contracts are available to traders, hedge funds, and miners.

CoinfloorEX claims they will offer the first “physically delivered cryptocurrency futures contracts”, designed specifically to protect investors from price slippage on positions at the time of settlement. The settlements made by CoinfloorEX will be based on physical delivery rather than the index price that’s across all other exchanges, which in turn provides true pricing transparency.