OKEx Launches Crypto Futures Settled in Tether Stablecoin
OKEx, a leading cryptocurency exchange is to launch a range of cryptocurency-based futures contracts settled in the stablecoin tether (USDT).
The exchange will support USDT pairs including Bitcoin (BTC), ether (ETH), bitcoin cash (BCH), EOS, XRP, bitcoin SV (BSV) and Torn (TRX) with leverage between 1 and 100x when trading commences on Nov 6, according to a press release issued on Tuesday.
“Most of the time, users are not willing to hold altcoins as margin, and they also see inverse contracts itself are complicated to understand. We see this linear contract would be an open door to many new retail traders,” said OKEx’s financial market director, Lennix Lai.
OKEx said it will continue looking into adding more stablecoin-based trading products in the near future. “We would continue to research and add stablecoin-based derivatives so to offer a simpler hedging instrument for traders who normally book their profit and loss in USD value,” Lai added.