Bitfinex planning to launch options trading in Q1 2020
- In addition to this, the exchange is also looking at prospects for a gold-backed stablecoin, dubbed Tether Gold.
- Bitfinex will also enable its clients to buy a variety of items with crypto using a gift card.
Paolo Ardoino, CTO of Bitfinex and Tether, recently told the Block that Bitfinex is planning on launching options trading and is also taking a closer look at prospects for a gold-backed stablecoin, dubbed Tether Gold. Though additional details about Tether Gold were not revealed, Ardoino did say that the firm is presently looking at the Q1 2020 launch of options trading. He also said that they are working with external market makers to ensure liquidity.
Ardoino stated that Bitfinex will allow its clients to purchase several items with cryptocurrency using a gift card. Reportedly, the firm is looking to integrate with a well-known partner who will provide the gift cards.
Ardoino said:
It's important that people can see the farther value of having cryptocurrencies rather than just trading back and forth between Bitcoin and USD or whatever.
In early November, Ardoino stated that Bitfinex had moved 1.561 million Tether (USDT) from the Omni Protocol to the Liquid Bitcoin (BTC) sidechain. Reportedly, the conversion increases the amount of USDT available on the network after the stablecoin was first launched on the Liquid sidechain in July.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
