Bitfinex launches derivatives based on Bitcoin and Ethereum
- Bitfinex users now have access to Bitcoin and Ethereum-based derivatives.
- Separately, the company opened a subdivision iFinex Financial Technologies Limited
The cryptocurrency exchange Bitfinex has added support for two derivatives on Bitcoin and Ethereum.
Now the derivatives section contains such instruments as BTCF0 and ETHF0, they are available for trading against stable coin USDt0. The maximum leverage is limited to 100x.
Read also: Bitfinex is set to release new stablecoins pegged to major commodities
The new product is a perpetual contract, which in many ways resembles the derivatives offered by the exchange BitMEX. Importantly, BTCF0 and ETHF0 are not available for users from the USA, Canada and Switzerland.
In a separate development, Bitfinex also announced the opening of a new subdivision - iFinex Financial Technologies Limited. The company aims to offer new trading opportunities and expand the set of available instruments.
"We are excited about the possibilities for creating new, previously unavailable products through our new platform. The new platform expands our ever-growing portfolio and cements Bitfinex as a market leader in innovation," Bitfinex CTO Paolo Ardoino said.
The company announced the launch of the derivatives in June. Then Ardoino noted that new instruments will have isolated margin, which will allow controlling the leverage and the liquidation price in a more efficient way. It also became known that leveraged instruments will be used separately from the main market where the leverage is limited to 3.3x.
Author
Tanya Abrosimova
Independent Analyst
