• Mon. Jun 17th, 2024

BitMEX partners with PowerTrade for new crypto trading products

  • BiMEX is partnering with crypto options platform PowerTrade to explore and offer new trading products to professional traders.
  • The strategic partnership is backed by Ascend Ventures, Pantera Capital, Ledger Prime and QCP Capital.

Crypto derivatives exchange BitMEX has announced a strategic partnership with PowerTrade, a crypto options platform backed by Ascend Ventures, Pantera Capital, Ledger Prime and QCP Capital.

The collaboration between the two platforms seeks to explore and bring to the market new products for professional traders. The integration with PowerTrade sees BitMEX expand its portfolio as it focuses on further innovation to elevate the trading experiences of its users.

Commenting on the partnership, Stephan Lutz, CEO at BitMEX, said:

The strategic partnership with PowerTrade exemplifies our ambition to offer crypto traders the most profitable opportunities on the safest and most reliable trading platform in the market. We recognise the dynamics and competitive nature of the market, and we hope to set new standards for the future of crypto trading.”

BitMEX’s latest effort comes amid a growing demand for new derivatives products from professional traders. Currently, traders can access more than 100 derivatives contracts on the platform, and spot trading is available for 11 major pairs.

Its latest listing is for Fantom, with a perpetual swap of the layer one smart contract platform’s FTM set for listing on December 7, 2023. 

According to details on the BitMEX website, FTM/USD Perpetual Swap will list with up to 10x leverage.

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