OKEx launches Bitcoin (BTC) futures contracts margined with Tether (USDT) stablecoin and now live on the trading platform.
On No. 14, OKEx announced the new coin offering while listing BTC/USDT offering on its trading platform.
#OKExUSDTFutures: $BTC/$USDT futures trading is officially launched! You may leverage from 0.01x to 100x when trading the USDT-Margined Futures. Trade now: https://t.co/fqsbSHqnfx Learn more: https://t.co/AHBdqOeQGY pic.twitter.com/3Qts0xjDK3 — OKEx (@OKEx) November 14, 2019
OKEx says that a stablecoin-based derivatives contract will make it simpler and efficient for traders to navigate the market and calculate risks.
OKEx CEO Jay Hao commented:
“The simulation of our USDT Futures Contract was very successful, and we received positive feedback from traders in the OKEx community.”
The derivative in question is quoted and settled in USDT and each BTC/USDT contract has a face value of 0.0001 BTC and has an available value range of 0.01 to 100 times. The platform’s users can take both long and short positions on the contract.
Further Plans of OKEx
OKEx has plans to launch USDT margined futures for other crypto assets.
More precisely, the firm announced plans to launch such contracts for:
Meanwhile, OKEx announced that it is forming a Self-Regulated Organization (SRO) aimed at standardizing crypto exchange practices and policies.