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Coinflex Makes Partial Repayments to SmartBCH Alliance Amid Restructuring Plans

June 27 (Cointime) - Coinflex, the former cryptocurrency exchange behind the BCH to sBCH cross-chain bridge, has made partial repayments to SmartBCH Alliance Limited as part of its restructuring plans. SmartBCH received approximately $2.1 million worth of distributions from Coinflex, including rvUSD, USDC, and BCH.

The repayment comes after a surge in the price of bitcoin cash, which has gained more than 110% over the last seven days. Coinflex is currently undergoing a legal process for restructuring and has rebranded to Open Exchange (OPNX) following approval of its restructuring plan.

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