Binance Secures Crypto Options Trading Platform
By Mark Lemon – Cryptocurrency Specialist
The world’s largest cryptocurrency exchange, Binance, has just acquired crypto-asset trading platform JEX, now labelled as Binance JEX. The new platform will offer derivatives products such as options, perpetual contracts, and futures, all different investment classes than buying Bitcoin.
Binance gave a statement saying, “JEX will join the Binance ecosystem as Binance JEX and focus on further building the cryptoasset derivatives market.” This is in hopes to provide users with professional services including options, futures contracts and other derivative products, all different from buying and selling Bitcoin itself.
JEX touts itself as being the world’s first blockchain asset transaction platform to introduce options trading for Bitcoin, Ethereum, EOS, and Litecoin.
Binance will also be managing the JEX token, which is run by the JEX foundation, potentially increases the utility of the token. The exchange has stated that the tokens will be distributed to users for community incentives and marketing activities.
During this time, Binance also launched two test platforms for its upcoming crypto futures products, where users can vote for their favourite futures testnets. The exchange is also set to launch crypto lending products where users can earn interest from Tether, Binance Coin and Ethereum Classic. Users will be required to buy crypto on these chains in order to lend.
This is just another venture for Binance who welcomes more partners to join their ecosystem to introduce greater functionality for the industry. Whether that be platforms to buy and sell cryptocurrency or products that derive from them.
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