According to a recent announcement, Huobi Derivative Market (DM), a derivative platform of cryptocurrency exchange, will launch XRP-based contacts.
The new financial tool will be launched at SGT 18:00 p.m. Mar. 29, 2019.
There will be three types of contracts quoted for the dollar available on the platform: weekly, bi-weekly and quarterly. Users will have access to trading with leverage up to x20. Contracts can be traded until the last 10 minutes before closing them with closing positions only.
The exchange rate will be determined by the index rate, which is calculated as the average value of the XRP price on Huobi, Bitstamp, OKEx and Binance against bitcoin and dollar.
Huobi DM will also launch other altcoins contracts in the future.
Earlier, Huobi announced the launch of its own token listing platform called Huobi Prime.
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