OKEx, the fifth largest cryptocurrency exchange in the world, is about to launch linear futures contracts based on the stable Tether coin with leverage up to x100.
According to a press release, platform customers will have access to pairs with coins such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Tron, Bitcoin SV, EOS and Ethereum Classic. Representatives of OKEx argue that derivative contracts based on stablecoin will provide users with simpler and at the same time effective tools for market research and risk calculation. So, a new product will save OKEx customers from the need to switch between crypto assets in order to record income and damage in USD.
Lenniks Lai, Head of Financial Markets at OKEx, drew attention to the fact that in the future the company may present users with even more similar tools. In addition, he noted that reverse contracts seem rather complicated for most customers, so the launch of new linear contracts will allow many retail traders to also experience the benefits of using this financial instrument in the crypto space. The launch is scheduled for November 14th.