Tanya Abrosimova
Independent Analyst
- Bitfinex aims to expand the list of available instruments.
- Cryptocurrency-based options may be launched as early as in the first quarter of 2020.
The Hong Kong-based cryptocurrency exchange Bitfinex has plans to launch options in the first quarter of 2020 and issue its gold-backed stablecoin Tether Gold, according to the chief technical officer of Bitfinex and Tether Paolo Ardoino.
This summer Bitfinex launched cryptocurrency derivatives which were rather costly, Ardoino confessed in the recent interview with The Block.
" That was a big project. It each require a few months of full-time development," he said.
Currently, apart from the options, the team is working on legal compliant basket futures and well, basket perpetual swaps
"I see that some other competitor is now rolling out tighter based perpetual swaps and futures market. That is a really big weakness for us because it gives more trust, more and more spread to tether, even farther. And these are. So our goal is to launch options in Q1 2020," he added.
Ardoino believes that using Tether as a base instrument for derivative products will increase trust and make it more liquid.
Also, Bitfinex wants to issue gift cards. They can be bought with digital assets and exchanged for goods and services in real life. The company has chosen a big and well-known partner for this project. Ardoino wants people to see that cryptocurrencies have use cases apart from an exchange between BTC and USD.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Bitcoin holds $84,000 despite Fed’s hawkish remarks and spot ETFs outflows
Bitcoin is stabilizing around $84,000 at the time of writing on Thursday after facing multiple rejections around the 200-day EMA at $85,000 since Saturday. Despite risk-off sentiment due to the hawkish remarks by the US Fed on Wednesday, BTC remains relatively stable.
Crypto market cap fell more than 18% in Q1, wiping out $633.5 billion after Trump’s inauguration top
CoinGecko’s Q1 Crypto Industry Report highlights that the total crypto market capitalization fell by 18.6% in the first quarter, wiping out $633.5 billion after topping on January 18, just a couple of days ahead of US President Donald Trump’s inauguration.
Top meme coin gainers FARTCOIN, AIDOGE, and MEW as Trump coins litmus test US SEC ethics
Cryptocurrencies have been moving in lockstep since Monday, largely reflecting sentiment across global markets as United States (US) President Donald Trump's tariffs and trade wars take on new shapes and forms each passing day.
XRP buoyant above $2 as court grants Ripple breathing space in SEC lawsuit
A US appellate court temporarily paused the SEC-Ripple case for 60 days, holding the appeal in abeyance. The SEC is expected to file a status report by June 15, signaling a potential end to the four-year legal battle.
Bitcoin Weekly Forecast: Market uncertainty lingers, Trump’s 90-day tariff pause sparks modest recovery
Bitcoin (BTC) price extends recovery to around $82,500 on Friday after dumping to a new year-to-date low of $74,508 to start the week. Market uncertainty remains high, leading to a massive shakeout, with total liquidations hitting $2.18 billion across crypto markets.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.