Synthetix, a platform specialized in the issuance of Ethereum-based synthetic assets, has just announced it plans to add new functionalities to its platform.
According to the announcement, during the third quarter of the year it plans to start offering its users the possibility of trading derivatives, specifically binary options, a type of derivative in which investors can either make a large profit or lose their whole investment.
According to the announcement:
"Synthetic binary options will likely generate significant trading volume as they will be able to leverage the liquidity of the debt pool, allowing a trader to take a large position almost immediately without needing to find a counterparty."
However, this is not the only innovation the exchange plans to integrate. The company has reported it intends to include other improvements, including listing traditional asset classes such as stocks, ETFs, indices and more, new crypto Synths, leveraged Synths or improvements to the sX interface.
Synthetix is not the only crypto platform interested in derivatives trading. In fact, Indian crypto exchange Unocoin was already exploring the possibility of launching derivatives trading even before the Indian Supreme Court lifted the ban on cryptos imposed by the country's central bank.
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