BitMEX Partners with PowerTrade for Innovation and Product Expansion
BitMEX, a leading crypto derivatives exchange, has formed a strategic partnership with PowerTrade, a crypto options platform. This collaboration aims to bring new products to BitMEX’s portfolio and enhance the trading experience for users. PowerTrade is supported by industry heavyweights like Ascend Ventures, Pantera Capital, and Ledger Prime.
About BitMEX: A Reliable Platform for Traders
Established in 2014, BitMEX offers low latency, deep liquidity, and maximum availability to cryptocurrency derivatives traders. The exchange is known for its impeccable security record and extensive range of services, including over 100 derivatives contracts and seamless conversion among 30 cryptocurrencies.
The Significance of the Partnership
Stephan Lutz, CEO at BitMEX, emphasizes the importance of the partnership with PowerTrade. He aims to provide crypto traders with profitable opportunities on a safe and reliable platform while setting new standards for the future of crypto trading.
PowerTrade’s Expertise and Game-Changing Offering
PowerTrade, led by CEO Mario Gomez Lozada, brings expertise from traditional finance and the cryptocurrency sectors. The partnership leverages PowerTrade’s advanced financial products along with BitMEX’s established user base and liquidity to develop a game-changing offering in the market.
BitMEX Expands Derivatives Offering with Fantom Perpetual Swap Listing
BitMEX is meeting growing demand from professional traders by expanding its derivatives offering. In 2015, it introduced the Perpetual Swap, which became the most widely traded crypto product. BitMEX regularly publishes Proof of Reserves and Proof of Liabilities to ensure transparency.
Listing Details and Unique Features
The latest listing on BitMEX is for Fantom, with a perpetual swap of FTM set to be listed on December 7, 2023. The FTMUSD Perpetual Swap will have up to 10x leverage. BitMEX’s Quanto contracts allow traders to take positions on the FTM/USD exchange rate without directly dealing with FTM or USD.
Prediction Markets and Future Contracts
In addition to its derivatives offering, BitMEX launched a prediction markets platform where users can bet on the outcome of various events using Bitcoin. The platform aims to provide transparency and fairness for traders. The first contract allows users to predict the recovery rate of FTX’s customer claims, while the second contract focuses on the potential approval or denial of a spot Bitcoin ETF by the SEC.
Hot Take: BitMEX and PowerTrade Join Forces for Crypto Trading Innovation
BitMEX’s partnership with PowerTrade signifies its commitment to innovation and meeting the evolving needs of professional traders in the cryptocurrency market. By combining their expertise and resources, BitMEX and PowerTrade aim to elevate the trading experience for users while setting new standards in the industry.
By
By
By