BitMEX CEO Informs of New Crypto Options Platform to Be Opened on Venture Coinist Podcast


Cryptocurrency platforms are evolving, as they begin to offer various products that will ultimately introduce more institutional investors over time.

BitMEX’s CEO and co-founder, Arthur Hayes, recently made an annoucement that his crypto derivatives exchange would be taking a new path soon. During an interview with the Venture Coinist podcast, Hayes stated that the firm is looking to open a platform for crypto options.

Hayes did not provide a ton of details, but he spoke on a rough timeline during which the platform is hoped to be launched. He told the host of the podcast that the goal is for this platform to be launched “in maybe 12 to 18 months.”

The CEO also spoke on the hope that the company will spur innovation on options listing, adding that there has been collaboration with “some university professors” regarding the “complicated new way” this can be done. Options are a financial derivative, and they allow the buyer to buy or sell an asset in the future at a specific price, though they do not have to.

The point of these products is to offer opportunities and strategies for customers involved with speculation, hedging, or protection with various conditions in the market.

BitMEX records about $1.1 billion in trading volume daily, which has pushed it to become one of the largest crypto exchanges in the world since it was created in 2014. However, since it only deals in derivatives right now, CoinMarketCap does not included it in the average price and volume numbers for Bitcoin.

Arthur Hayes has been vocal about his belief that Bitcoin will end up back at the $10,000 price level within 2019. He hopes to see the market recovery by the forth quarter.

BitMEX also does research on the cryptocurrency industry, recently publishing a report on how the bear market last year impacted ICO projects and the values of their tokens.

Within the same month, BitMEX fought back against reports that they were leaving the United States and Québec behind, based on the newly improve regulatory atmosphere. However, they said the claims were false.

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP)

Live Bitcoin (BTC) Price:

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