BitMEX launches FX perpetual swap contracts for institutional and retail investors

BitMEX, one of the longest running derivatives exchange in the crypto market. It is entering traditional financial markets with the introduction of perpetual swap contracts linked to foreign currencies.

The company announced Friday the launch of FX perpetual swap contracts (FX perps), which will allow users to trade more than 20 contracts linked to foreign currencies, even during post-market trading for those currencies. this This is the company’s most prominent move in non-crypto-related products. Since the company has rebranded andlead Alexander Hoptner, a veteran of crypto exchanges, has taken over as Chief Executive Officer, replacing founder Arthur Hayes.

The launch of FX perps reflects its ongoing strategy to provide existing and new users of BitMEX “a wider range of lucrative crypto contracts. This includes products that will give traders access to currencies and commodities.”

Daniel Egloff, Head of Quants at BitMEX, said in a statement: “For institutional users, FX perps offers new ways to create synthetic crypto pairs for speculation – for example Bitcoin offered in non-USD currency.”

BitMEX, once known for being the largest crypto derivatives exchange, held $17 billion in bitcoin futures volumes during July.

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