OKEx Cryptocurrency Exchange has announced the launch of new linear futures contracts based on the USDT stablecoin with a leverage of up to x100.
According to the announcement, it will be possible to trade stablecoins in pairs with BTC, RTH, LTC, BCH, XRP, EOS, ETC, BSV and TRX. Thanks to derivative contracts based on stablecoin, traders will be able to increase the efficiency of navigation in the market and more accurately predict risks. Derivatives based on USDT, in turn, will save users from having to switch between digital assets to fix profits or losses in dollars.
Director of Financial Market OKEx Lennix Lai (Lennix Lai) noted that in the future the possibility of launching derivatives of other stablecoins, which will have the same characteristics.
“Users do not want to hold altcoins for collateral for too long because of the risks of their depreciation, and reverse contracts are too complicated for an ordinary trader to understand. New line contracts will simplify the margin trading process for many retail speculators, ”he says.
According to preliminary data, the launch of futures on USDT will take place on November 14, and unlimited swaps on December 9.
Futures contracts will have a fixed delivery date, their price will be set based on the average value during the last hour preceding expiration.
About a week ago, OKEx announced
plans to open a new cryptocurrency exchange platform in cooperation with the Malta Stock Exchange. The companies plan to obtain permission from the Malta Financial Services Authority by the end of this year.
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