Binance, the world's largest cryptocurrency exchange by adjusted trading volume, has just announced the acquisition of JEX, a little-known crypto derivatives platform, Binance announced yesterday.
JEX, a derivatives exchange based in the Seychelles, will be rebranded to Binance JEX and offer derivatives including futures, options and perpetual contracts.
This is not Binance's first contact with derivatives, since the exchange has been working on its own derivatives platform, which means it now has 2 platforms, the one it has just acquired and the one it has been working on internally.
What is it going to do with these 2 similar tools? The exchange's users will be granted access to both platforms over the next 2 weeks and will be able to test them in order to choose one.
Those clients who take part in the tests and vote for their favorite will have the chance to win 10,000 BNB tokens, the exchange's native token.
The acquisition has also given Binance control of the JEX team and JEX tokens.
Earlier this month Ihodl reported that data from some Binance users had been leaked to several Telegram groups. In July it was known that Binance planned to release its own futures platform within the next months.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.