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•The amount of time for launch is still unspecified
•New CEO plans to do something bigger, keeping derivatives as the primary focus.
Major cryptocurrency exchange BitMex announced several new features that will be available alongside crypto derivatives. In a blog post, the exchange disclosed the five new features added to the list of their services.
Derivatives Still Remain a Priority for BitMex
Spot, Brokerage, Custody, Information Products, and Academy are the five new segments that will expand BitMex’s business. However, the launch dates for these features are still to be decided. The blogpost assured that derivatives trading would always remain a priority for them. The spot capabilities will quickly allow users to sell and buy crypto assets. The licensed brokerage would offer end-to-end principal, agency, and OTC trading services.
Licensed Custody for Enhanced Security Abilities
The licensed custody for assets will also be introduced to amplify the company’s security abilities. And lastly, the information products sector would provide valuable information on cryptocurrency to the users. However, the post also clarified that this innovative and ambitious idea would require time to execute. The hiring process has already begun. Moreover, the BitMex team has gone through a lot in the last few months following the allegations on co-founders Ben Delo, Samuel Reed, and now-former CEO Arthur Hayes.
They were accused of violating the Bank Secrecy Act by the U.S. Department of Justice and Commodity Futures Trading Commission. As a result, BitMex had to go through an extensive hiring procedure. However, BitMex, Alex Hoptner, is focused on making something bigger out of the priority derivatives market.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
