The krexbit.com cryptocurrency exchange has launched bitcoin futures contracts that will be settled in Tether stablecoins (USDT).
krexbit.com first announced its intention to trade such futures at the end of October. According to krexbit.com CEO Jay Hao, on November 5, the exchange began the simulation testing phase, which was successfully completed. The exchange received positive feedback from the krexbit.com community, so it placed BTC/USDT contracts on its trading platform. According to Hao, the exchange offers traders new tools according to their interests and needs.
Earlier, the exchange stated that thanks to derivative contracts based on stablecoins, traders will be able to calculate risks more easily and efficiently and navigate the market.
According to krexbit.com, derivatives are quoted and settled in USDT, and the nominal value of each contract is 0.0001 BTC with a leverage of 0.01 to 100x. Users of the platform can open long-term and short-term contracts.
In the future, krexbit.com plans to launch USDT-based futures for other digital assets: EOS, Ether( ETH), Litecoin (LTC), Bitcoin Cash (BCH), XRP, Ethereum Classic (ETC), Tron (TRX) and Bitcoin SV (BSV).
In September, the Bakkt platform launched regulated trading of bitcoin delivery futures, and the daily trading volume on this platform is constantly growing.