19 October 2017

Coinfloor launches broker-based bitcoin marketplace

02 July 2015  |  2103 views  |  0 Source: Coinfloor

Coinfloor is announcing the launch of the world's first broker based bitcoin marketplace.

Coinfloor Market offers UK retail investors and consumers the ability to buy bitcoins and gain exposure to digital currency innovation in a secure environment.

The announcement follows an event in London, where Coinfloor met with the UK's top bitcoin brokers in order to further adoption of the currency. The 21 founding members of Coinfloor Market signed a pledge committing to create a safe and accessible marketplace for bitcoin. The resulting Bitcoin Brokers' Agreement closely mirrors the Buttonwood Agreement that formed the foundation of the New York Stock Exchange, which initially faced similar challenges to today's bitcoin marketplaces.

Coinfloor CEO, Mark Lamb said, "Our founding members are key to the success of Coinfloor Market. Just as the NYSE was committed to a decentralised network of brokers backed by a centralised exchange, Coinfloor is the first institution in the Bitcoin industry to mirror this proven model."

Historically, investors and consumers looking to buy bitcoins in the UK have been deterred by the need to send funds internationally, deal with exchange rate risk and manage their own storage security. Coinfloor simplifies this process for bitcoin buyers by providing a direct and personal interface to a vetted Coinfloor Market Broker with local banking facilities. Prices are streamed directly from Coinfloor Exchange, which has grown to become the world's most liquid bitcoin to Sterling exchange. Bitcoins purchased on Coinfloor Market are automatically stored in Coinfloor's custodianship service which provides 100% cold storage, securing bitcoins with multiple encrypted keys stored in underground vaults.

Mark added, "Coinfloor Market and the introduction of professional bitcoin brokers is the next step for bitcoin's adoption. We are moving away from the 'Wild West' of Bitcoin towards safe and accessible structures. Coinfloor's Brokers join us in leading the Bitcoin industry in pursuing professionalism and focussing on trust and innovation that will accelerate the growth of the Bitcoin network."

Peter Wood, known in the market as y3peto, one of Coinfloor Market's professional brokers, said "Coinfloor Market is now the most secure space to purchase bitcoins. My customers want a fair price, a secure transaction and a safe place to store their bitcoins. Coinfloor Market provides that and I'm looking forward to building my business here. It gives me the well deserved recognition for my work as a bitcoin broker in the UK."

The announcement follows Coinfloor's recent partnership with LHV Bank and its 15th monthly blockchain-based audit of client bitcoins, giving the company the longest running and most transparent audit record in the Bitcoin industry.

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