OKEx to launch Tether Futures Trading

One of the leading crypto exchanges OKEX is planning to launch Tether USDT Futures Trading with leverage of up to 100. The exchange will offer a daily settlement and offer supported pairs with Bitcoin (BTC), EOS, Ether (ETH), Litecoin (LTC), Bitcoin Cash (BCH), XRP, Ethereum Classic (ETC), Bitcoin SV (BSV) and Tron (TRX).

October 29, 2019, | AtoZ MarketsOKEx is a global leader in digital asset trading, providing advanced financial services to traders around the world using blockchain technology. OKEx provides hundreds of token & futures trading pairs to help traders optimize their strategy. They are also one of the largest digital asset exchanges in terms of transaction volume, serving millions of users in more than 100 countries. Their BTC futures operations represent a daily volume of nearly $ 1.5 billion and widely recognized as the gold standard in the industry.

OKEx Is Ready To Offer Stablecoin

The OKEx is a Malta-based crypto exchange, is ready to offer stablecoin derivatives contracts. The goal of the company is to facilitate market navigation and risk calculation for traders by providing them the opportunity to trade Tether futures.

A USDT-based derivative, in particular, will allegedly reduce the hassle of switching from one cryptocurrency to another. That is for those who record profits and losses in dollars.

Lennix Lai is the director of financial markets at OKEx. He told that the exchange platform could put in place other USD-based stablecoin derivatives. That is to provide related and simplified hedging tools.

Mr. Lai also highlighted the reasons for choosing the exchange to offer linear futures rather than reverse for the USDT:

Most of the time, users are not willing to consider altcoins as a margin. And they also see that the reverse contracts themselves are complicated to understand. But this linear contract would be a gateway to many new retailers.

Read More: Crypto exchange OKEx will delist five privacy coins

Launching OKEx Futures

OKEx USDT futures will be launched on November 6 this year. The exchange indicated that it would use a reference price to calculate users’ unrealized Profit and Loss (PnL). That is to limit unnecessary liquidations in volatile market conditions. OKEx will also offer hedging tools such as insurance to help traders.

The exchange interested in launching tether futures trading in September. The Binance bitcoin futures platform has gained huge volumes in the few months since its launch.

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