BitMEX, one of the world’s leading crypto derivatives platforms, has announced that its traders can officially margin and settle with Tether (ERC20-USDT) on the platform starting today.
(1/5) It’s official 🎉 our #USDT contracts are live tomorrow at 04:00 UTC!
— BitMEX (@BitMEX) November 9, 2021
“Adding Tether to BitMEX is our way of embracing the coming tidal wave of retail adoption. But the big picture here is less about Tether itself, and more about how this opens up the range of products that BitMEX can offer. This approach, with a new suite of products, is designed to offer more trading opportunities for everyday users,” said Alexander Höptner, CEO of BitMEX, in a statement.
He added, “We’re going Beyond Derivatives, and Tether-margined products are an important milestone in our transformation. But we’re also keeping the things that set BitMEX apart from the rest: superior trading technology, ironclad security, and the biggest insurance fund in the business.”
Tether trading comes to BitMEX
The exchange supports leveraged trading via Perpetual and Futures Contracts and was one of the biggest and earlier exchanges focused on the crypto market. These were BTC- or altcoin-margined until today.
BitMEX will list nine USDT-margined contracts. They include seven perpetual linear swaps on XBT, ETH, XRP, LTC, BCH, DOGE, and SOL and two linear futures contracts on XBT and ETH.
BitMEX is rolling out the following incentives to celebrate: There will be zero fees on all USDT-margined contracts for 30 days. The exchange will pay out $1,500 for affiliates who refer a total of $15 million in volume through 9 December.