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Bitfinex Derivatives announced its collaboration with the crypto derivatives exchange Thalex to expand its service portfolio, including options and futures. The open beta integration between the Seychelles-based duo is designed to allow Bitfinex Derivatives customers to access Thalex’s list of crypto options and futures products.
Noteworthy Agreement Between Two Exchanges
The integration of the two futures platforms aims to reduce user participation, fund deposit, and trade-related disputes on Thalex. The team provided detailed information about the strategic initiative in the shared announcement:
“It also represents an innovative distribution model where exchanges work together to facilitate the adoption of special products on new platforms like Thalex.”
Bitfinex Derivatives and Thalex expect significant growth in crypto options and futures trading, considering that options and futures currently account for only 3% and 2% of the $100 billion daily crypto futures volume. Paolo Ardoino, Bitfinex Derivatives’ Chief Technology Officer, commented on the launch of the public beta integration with Thalex:
“Crypto derivative products like stablecoin-settled futures and options are critical for providing a more stable and orderly market, and we expect significant demand for these features.”
Details on the Subject
According to both platforms, the lack of education and special platforms that can facilitate linear, stablecoin-settled contracts with robust technology and liquidity hinders the growth of the crypto derivatives market. In this context, Thalex CEO Hendrik Ghys explained how options and futures complement the Perpetuals ecosystem:
“Futures allow the fixing of the carrying cost of a delta position, while options provide access to non-linear returns and volatility risk. Options and futures together expand the investor’s toolkit with more methods for hedging or generating returns.”
On July 6, the crypto asset platform Bitfinex Securities announced that it would refund investors for the Hilton hotel initiative at El Salvador’s international airport after failing to attract the minimum required funding of $500,000. The project, which constituted the first public offering of crypto debt assets in El Salvador, raised $342,000 from investors before the initial deadline, representing 5% of the $6.25 million it aimed to collect.
