Popular crypto trading platform Bitfinex has just launched a new investment instrument, The Block has reported.
From now on, the users of the exchange can invest in equity derivatives settled in Tether.
The launch of these USDT-settled equity index derivatives allows the exchange to take a step beyond digital assets.
The derivatives in question are Europe 50 and Germany 30 perpetual swaps. The former represents the STOXX Europe 50 index and covers 50 stocks from 18 European countries, while Germany 30 represents the Deutscher Aktien Index (DAX) of the 30 largest German stocks listed on the Frankfurt Stock Exchange.
It must be noted this is the first time a cryptocurrency exchange launches an equity-related product.
Paolo Ardoino, the platform's CEO, claims that Bitfinex plans to use this product to expand the investment options available to the exchange users.
These perpetual swaps are settled in USDT and help reduce forex and interest rate risks. They are available in some jurisdictions and only to "verified users."
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