Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Bitfinex => Topic started by: LazY on April 09, 2021, 06:06:26 PM
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Bitfinex Derivatives users will be able to trade with up to 100x leverage bitcoin-settled perpetual contracts for the trading pair XAUt/BTC.
A year after the release of XAUt – a commodity-backed token pegged to gold – Bitfinex has announced the launch of a perpetual contract for the trading pair Tether Gold/Bitcoin. The new product will be settled in BTC and will offer up to 100x leverage for users.
XAUt/Bitcoin Perpetual Contract on Bitfinex
Launched in 2012, Bitfinex is among the oldest cryptocurrency trading venues owned and operated by iFinex Financial Technologies Limited. Back in 2019, the Hong Kong-based exchange expanded its platform by the release of Bitfinex Derivatives – “a digital token trading platform offering services for digital currency traders and global liquidity providers.”
In a press release shared with CryptoPotato, the exchange announced the addition of the latest product on its derivatives platform. It comes in the form of a perpetual contract for Tether Gold/Bitcoin (XAUt/BTC).
The product is scheduled to go live at 12:00 PM BST on April 9th and will offer users up to 100x leverage. Interestingly, Bitfinex said the contract will be settled in bitcoin.
Paolo Ardoino, CTO at Bitfinex Derivatives, noted that the company expects a “ready uptake for this Tether Gold Bitcoin perpetual contract.” He believes this new product should satisfy the needs of sophisticated traders by enabling them to hedge and manage risks.
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It’s worth noting that the products on Bitfinex Derivatives are “only available in eligible jurisdictions and are exclusive to verified users.” The statement highlighted US-based customers are “not permitted to use Bitfinex or any of its services.”
Bitfinex Derivatives Launches Contracts for Tether Gold/Bitcoin With up to 100x Leverage
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