BitMEX adds spot crypto exchange to its services

Wednesday 18 May 2022 11:06 CET | News

Global crypto derivatives exchange BitMEX has expanded its platform beyond just derivatives by launching a spot crypto trading platform.

BitMEX announced that its spot crypto exchange, the BitMEX Spot Exchange, is live, allowing retail and institutional investors to buy, sell, and trade cryptocurrencies like Bitcoin (BTC) and Ether (ETH).

At launch, the exchange supports seven pairs of cryptocurrencies, including BTC, ETH, Chainlink (LINK), Uniswap (UNI), Polygon (MATIC), Axie Infinity (AXS), and ApeCoin (APE), all trading against the Tether stablecoin (USDT).

The company decided to build its own spot exchange in 2021, in response to the increasing crypto trading demand from its current user base, according to Cointelegraph.

Founded in 2014, BitMEX is a crypto trading company that has been mainly focusing on derivatives, allowing users to buy and sell contracts like futures, options, and perpetuals on a wide range of crypto assets.

BitMEX has faced some legal issues recently, with founders Arthur Hayes and Hong Konger Benjamin Delo pleading guilty to violating the Bank Secrecy Act in February 2022. The court eventually ordered a total of USD 30 million civil monetary penalties from the three co-founders of the BitMEX crypto derivatives exchange in March 2022.

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Keywords: product launch, cryptocurrency, cryptocurrency exchange, trading platform, Bitcoin
Categories: DeFi & Crypto & Web3
Companies: BitMEX
Countries: World
This article is part of category

DeFi & Crypto & Web3


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