OKEx Expands Into USDT Futures Trading

VALLETTA, Malta, Nov. 05, 2019 (GLOBE NEWSWIRE) -- OKEx, the world’s largest futures cryptocurrency exchange, today announced the launch of USDT Futures Trading, a linear futures contract. Served as a virtual derivative product that is quoted and settled in USDT, each contract has a face value of a fixed amount of digital tokens. Traders can long or short a position to profit from the increase or decline of a cryptocurrency’s price respectively. OKEx provides a wider derivative portfolio with a greater variety of underlying currencies and more comprehensive functionality to meet users’ trading requirements.

Key features include:

• Linear Contract - without the need to hedge the margin risk of inverse contracts
• Leverage Level: 1-100x
• Supported pairs: BTC, EOS, ETH, LTC, BCH, XRP, ETC, BSV, TRX
• Trading Hours: 24/7
• Daily Settlement

Advantages include:

• Efficiency and Low-cost – trade without the hassle of switching between cryptocurrencies
• Comparatively Stable – reduce the risks induced by the volatility of the collateral’s price for future contracts and simpler calculations
• Intuitive Trading Experience – similar to spot trading with the addition of leverage, it is easier for users to master the trading system.

“Most of the time, users are not willing to hold altcoins as margin, and they also see inverse contracts itself are complicated to understand. We see this linear contract would be an open door to many new retail traders,” said Lennix Lai, Financial Market Director at OKEx. “At OKEx, we’ve developed a safe, reliable, and stable environment for cryptocurrency trading, and strive to offer new services based on our customers’ interests. We would continue to research and add stablecoin-based derivatives so to offer a simpler hedging instrument for traders who normally book their profit and loss in USD value.”

USDT Futures Contracts will be launched on November 14, 2019, and simulation will start on November 5, 2019. USDT Perpetual Swap will be launched on December 9, 2019, and simulation will start on November 30, 2019.

ABOUT OKEx
OKEx is a world-leading digital asset exchange headquartered in Malta, offering comprehensive digital assets trading services including token trading, futures trading, perpetual swap trading and index tracker to global traders with blockchain technology. Currently, the exchange offers over 400 token and futures trading pairs enabling users to optimize their strategies.

Vivien Choi media@okex.com