September 2, crypto currency exchange Binance announced the acquisition of platform JEX, which specializiruetsya how to spot trading and derivatives trading.
The acquired platform will now be known as the Binance JEX and will offer users Binance derivatives, including futures and open-ended contracts. In addition, Binance JEX will soon offer the leverage of 20x for the pair BTC / USDT.
Previously Binance had plans to launch a platform for trading futures. At that time it was also reported that will launch a option margin trading for the pair BTC / USDT. Service for margin trading Binance was officially launched on 11 July 2019.
JEX allows you to spot trade more than 20 assets, including bitcoin, Ethereum and BNB. The volume of daily exchange spot trade JEX is an average of just below $400 000.
The exchange JEX also has his own eponymous cryptocurrency. The price of the token JEX has increased dramatically after the appearance of news that the platform has acquired the exchange Binance. Nearly half of all tokens JEX is already in circulation.
Exchange Binance, which just came out on the derivatives market, faces competition from both veterans of the market and new market players.
Platform Bakkt, as previously reported, will launch its bitcoin futures on September 23. In addition, the derivatives exchange Seed CX also unveiled its plans to launch bitcoin swap.
However, given the huge user base Binance, it would be easier to develop the initial liquidity.