Cryptocurrency exchange Bitfinex plans to launch options contracts in the first quarter of 2020, said Paolo Ardoino, Technical Director of Bitfinex and Tether, iHodl Russia reports.
Ardoino adds Bitfinex plans to release a gold-backed stablecoin called Tether Gold. According to him, the development of derivatives took several months. Now, Bitfinex, in anticipation of the launch of options, is working with external market makers to provide liquidity. The exchange will also reportedly open up the possibility for customers to buy goods for cryptocurrencies using gift cards.
To ensure the launch, the company plans to work with a "major well-known partner."
"...it's important that people can see the father and value of having and having cryptocurrencies right in and just trading back and forth between Bitcoin and USD or whatever," Ardoino added.
Earlier iHodl reported that iFinex Inc, Bitfinex's parent company, filed an application in the United States District Court for the Central District of Southern California to recover $880 million.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.