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CoinFLEX adds former Binance executive Leslie Tam as chief strategy officer

CoinFLEX has snatched former Binance executive Leslie Tam and appointed him as the exchange’s chief strategy officer amidst the crypto industry gaining more popularity in the mainstream scene.

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Wed, 18 Dec 2019, 13:03 pm UTC

Cryptocurrency futures exchange CoinFLEX has now hired former Binance executive Leslie Tam as its chief strategy officer. Tam will be spearheading the exchange’s expansion as well as exploring possibilities of offering new products to crypto users.

Tam has a wealth of experience in the crypto and financial industry, which will be crucial in solidifying CoinFlex’s position in the emerging market. The exchange told Cointelegraph that its current endeavor is geared towards a specific product that aims to provide an enjoyable experience to its clients.

“Here at CoinFLEX we will strive to create a fun experience for traders as well as innovative offerings for different users of our services. Bracket order competitions are a first step and represent a unique way to trade in a less volatile market,” Tam said.

Gameifying crypto trading

CoinFLEX has been trying to provide a gaming experience for its users, a unique approach that aims to entice people to participate more in the crypto trading scene. One example of this is the exchange’s Bracket Order Battle, a cryptocurrency trading-based competitions that are based on a new order type that was announced last month.

In October, CoinFLEX has also rolled out its Libra Initial Futures Offering (IFO) that lets traders bet if Facebook’s Libra will be launching on its scheduled date next year.

Libra's future is currently uncertain as it has been facing a lot of backlash from regulatory bodies and several governments. However, the association behind the initiative is still hard at work in preparing for its launching.

Binance trying to build on its momentum

Meanwhile, CoinFLEX’s rival, Binance, has also been trying to grow its influence and recently partnered with TravelByBit to launch a cryptocurrency-backed travel reward card. TravelByBit CEO Caleb Yeoh said that they want to lessen the financial burden of travel by leveraging the advantages of the crypto industry.

“Many businesses that accept crypto for their services charge users a high premium, which poses a significant barrier to adoption. At TravelbyBit, we want to make crypto useable, provide incentives for early adopters, and see crypto adoption grow. We are excited to work closely with Binance to bring crypto payments to travelers around the globe,” Yeoh said.

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