Hong Kong-based cryptocurrency exchange Bitfinex has just launched new bitcoin and ethereum derivative products in pairs with the stablecoin USDT. The available pairs are BTCF0/USDt0 and ETHF0/USDt0, the exchange reports.
To access these new instruments, users must go to the "Derivatives" tab on Bitfinex's main trading interface. The platform allows traders to exchange cryptocurrencies with a leverage of up to 100x.
Bitfinex has stressed that the main objective of this new product is to cover risks. However, not all users will have access to them. Bitfinex perpetual contracts are not available to residents of the United States, Canada and Switzerland.
In addition, iFinex, Bitfinex's parent company, has announced the launch of Financial Technologies, a division focused on expanding its product capabilities. Bitfinex's CTO, Paolo Ardoino, has said:
"We are excited about the possibilities for creating new, previously unavailable products through our new platform. The new platform expands our ever growing portfolio and cements Bitfinex as a market leader in innovation."
At the end of July, Ihodl reported that a judged had decided to put off his decision in the case against crypto exchange Bitfinex and Tether's parent company iFinex. As a result, Bitfinex and Tether have been allowed to continue operating, however, the exchange cannot borrow funds from Tether.
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