Bitfinex Derivatives has partnered with crypto derivatives exchange Thalex to enhance its service offerings, including options and dated and perpetual futures trading.
This collaboration, now in open beta, allows Bitfinex Derivatives users to access Thalex’s range of crypto options and futures products for trading.
The integration aims to streamline user onboarding, fund deposits, and trading on Thalex. According to a statement shared with Cointelegraph:
“It also represents an innovative distribution model, where exchanges work together to facilitate adoption of specialized products on new platforms such as Thalex.”
Bitfinex Derivatives and Thalex anticipate significant growth in crypto options and dated futures trading.
Currently, options and dated futures represent only 3% and 2% of the daily crypto derivatives volume of $100 billion, respectively.
Paolo Ardoino, CTO of Bitfinex Derivatives, commented on the public beta launch:
“Crypto derivative products, such as stablecoin-settled futures and options instruments, are critical to ensuring a more stable and orderly market, and we expect considerable demand for these features.”
Both platforms identified a lack of education and dedicated platforms as barriers to the growth of the crypto derivatives market.
They emphasized the need for linear, stablecoin-settled contracts, supported by robust technology and liquidity.
Hendrik Ghys, CEO of Thalex, highlighted the complementary nature of Options and Dated Futures to the Perpetuals ecosystem:
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“Futures enable fixing the cost of carry of a delta position while options provide access to non-linear payoffs and volatility exposure.
“Together, options and futures expand a trader’s toolkit with more ways to hedge or generate yield.”
In related news, Bitfinex Securities announced on July 6 that it would refund investors in its Hilton hotel venture at El Salvador’s international airport.
The project, which aimed to raise $6.25 million through the first public offering of digital debt assets in El Salvador, only garnered $342,000 by the first deadline.
“As per the Relevant Information Document, Bitfinex will be refunding all investors,” a Bitfinex spokesperson confirmed with Cointelegraph.
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