Malta-based crypto exchange OKEx is all set to offer stablecoin-based derivatives contracts. The company aims to make it easier for traders to navigate the market and calculate risks by offering Tether futures trading.
OKEx’s USDT futures will launch on November 6 of this year. OKEx has indicated that it will use a mark price to calculate users’ unrealized Profits and Losses (PnL) to mitigate unnecessary liquidation in volatile market conditions. OKEx will also offer hedging tools such as insurance to help traders.
The exchange will offer daily settlement and offers supported pairs with Bitcoin (BTC), EOS, Ether (ETH), Litecoin (LTC), Bitcoin Cash (BCH), XRP, Ethereum Classic (ETC), Bitcoin SV (BSV) and Tron (TRX). The exchange had earlier showed interest in launching tether futures trading in September. Binance bitcoin futures platform gained huge volumes within the few months of launch.