OKEx Exchange to Launch USDT Futures Margin Trading Next Month
Though scheduled to be launched in October, the exact date hasn’t been set yet.
“We are planning to launch USDT margin futures. But at this stage, we are aiming to launch in October and still pending on the exact launch schedule.”
A type of derivative product, margin futures contracts permit traders to enter into a leverage position to buy or sell an asset and utilize it effectively, for delivery at a later date.
In this case, for USDT, it means the use of futures contracts between the traders more efficiently.
As of late, several cryptocurrency exchanges are rushing into crypto derivatives, with Binance being the recent one that launched a futures trading platform. Binance Futures, for now, supports BTC/USDT futures with up to 20x leverage.
Recently, OKEx made headlines when the exchange denied a BTI report claiming the platform to be involved in wash trading.