Bitfinex Exchange Plans to Launch Options Trading And Gold-Backed Stablecoin, Tether Gold

Bitfinex exchange is planning to diversify the investment products within its portfolio going forward. The company’s CTO, Paolo Ardoino, said that they will soon introduce option baskets and a gold-backed stablecoin during an interview with The Scoop.

He, however, did not discuss in detail the nature of a gold-backed crypto coin but highlighted its design which would resemble Tether’s USD coin. Ardoino noted that Bitfinex plans on launching the basket futures and perpetual swaps within Q1 of 2020. At the moment, the digital exchange is working closely with stakeholders in this market to ensure the products integrate in a liquid ecosystem once launched.

Furthermore, Bitfinex will also expand operations into the payment system industry. The exchange is set to launch a gift card supporting crypto payments at various points of sales. They have currently partnered with another giant in this space whose role is to facilitate the cards.

Ardoino applauded the move as an advancement of cryptocurrency use;

“It's important that people can see the farther value of having cryptocurrencies rather than just trading back and forth between Bitcoin and USD or whatever.”

Bitfinex Derivatives Trading

The crypto exchanges’ most recent app release accommodates the trading of derivatives. Traders using the Bitfinex platform can view position, order history, pairs and charts for the supported derivative products. In addition, interface features for the new update are quite smooth allowing clients to access information summaries for their accounts instantly.