OKEx to Launch USDT Futures Trading With Up to 100x Leverage
October 30, 2019
OKEx to Launch USDT Futures Trading With Up to 100x Leverage
October 30, 2019

OKEx is planning to launch Tether (USDT) futures trading offer while offering a linear futures contract with leverage of up to 100x.

On Oct 29, a press release shared with Cointelegraph, by the world’s fifth-largest crypto exchange stated that the contract will have daily settlement and offers supported pairs with Bitcoin (BTC), EOS, Ether (ETH), Litecoin (LTC), Bitcoin Cash (BCH), XRP, Ethereum Classic (ETC), Bitcoin SV (BSV) and Tron (TRX).

Stablecoin-based Derivative For Simpler Trading

Stablecoin-based derivative contracts will offer a simpler and more efficient means for traders in navigating the market while calculating risk prevention.

USDT-based derivative, in particular, will reduce the hassle in needing to switch between cryptocurrencies for those who book their profits and losses in USD value.

An indication was made that the exchange platform could roll out further USD-based stablecoin derivatives in providing similar and simplified hedging instruments.

Lennix Lai, Financial Market Director at OKEx, points to the reasons behind the exchange’s choice to offer linear — rather than inverse — futures contracts for USDT:

ALSO READ :  The Best Decentralized Web Browsers You Should Use Today

“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.”

Further Projects of OKEx

On Oct 6. cryptonewspoint reported that OKEx is forming a Self-Regulated Organization (SRO) aimed at standardizing crypto exchange practices and policies. The member exchanges will supposedly ‘collaborate to define and comply with standards promoting digital asset adoption, government and regulator education, and develop metrics and criteria for trading, listings, and reporting.’

Recently, OKEx announced that it is joining Klaytn, a global public blockchain platform developed by Kakao subsidiary, Ground X.


Source: Cointelegraph | Image: Shutterstock


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

A Brief Overview On Wrapped Token

A Brief Overview On Wrapped Token

A wrapped token is an ERC-20 token with a value identical to another asset that it represents, either through a smart contract or by being backed one-to-one with the underlying asset. It is an asset hosted on the...

Blockchain in the Tourism Industry

Blockchain in the Tourism Industry

Tourism can be defined as traveling to a place that is different from your home city or country for various leisure or business purposes, and staying there for some considerable period of time at a length. It becomes...

Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.
Share This

Share This

Share this post with your friends!