Bitfinex Derivatives adds support for new perpetual swaps

Bitfinex announces the listing of a $280 million crypto hedge fund

Bitfinex Derivatives, a rapidly growing derivatives platform belonging to the Bitfinex crypto trading platform, has been working hard on increasing its number of supported derivatives pairs. Only a week ago, the platform introduced perpetual swaps for Ripple, Monero, and Terra. Before that, about a month ago, the platform also launched a perpetual swap for Solana’s SOL token.

Now, the platform added a new set of perpetual swaps, this time for Algorand and Ripple, Bitcoin, according to recent announcements.

New reports say that Algorand (ALGOF0:USTF0) and Ripple, Bitcoin (XRPF0:BTCF0) will allow users great new benefits, such as up to 100x leverage. The first pair will be settled in Tether’s USDT, while the second one will be settled in Bitcoin (BTC/USD).

Bitfinex Derivatives’ CEO, Paolo Ardoino, commented on the move by saying that the derivatives trading platform is delighted to announce the addition of the two new pairs. The exchange’s portfolio of perpetual swaps is growing rapidly, and the platform has been working hard on increasing their number, likely due to the community’s demand, but also in the rush to continue to outperform any potential competitors.

The platform expects to see great interest in new pairs

In any event, Ardoino added that the Bitfinex Derivatives’ team anticipates great interest in these products. He especially stressed that the interest might come from various funds and professional investors, who are always seeking new solutions for hedging purposes, risk management, and alike.

Of course, it should be noted that the platform and its products will only be available in eligible jurisdictions. Considering all the heat that Binance has seen lately due to its rush to deliver solutions for which it did not have a license, all other crypto businesses have been making sure to not overstep their bounds and get on the regulators’ bad side. So, the Bitfinex Derivatives platform’s products will only be available in supported jurisdictions, and exclusively available for verified users only.

The post Bitfinex Derivatives adds support for new perpetual swaps appeared first on Invezz.

Publication date: 
09/20/2021 - 13:28
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