On March 7th, we reported that Coinut, the startup Singapore-based bitcoin futures, and options exchange had shut down its liquidity and temporarily halted service in order to relaunch. Not knowing exactly when and if to expect the company would even come back, today came welcome news as Coinut announced they have finally relaunched live services.
The Coinut team is led by Founder and CEO Xinxi Wang Ph.D. who started the exchange back in 2013 along with other experts from computer science and finance. Their mission was to develop a secure and professional platform for people to trade bitcoin options and possibly other crypto derivatives in the future.
That future is here as the company introduced futures dealing along with the relaunch of other new derivatives.
Coinut has introduced bitcoin spot and futures contracts and carries over previous European vanilla and binary options. Volume is still light and might scare some traders away from fully participating in the exchange.
The exchange is incorporated as Coinut Pte. Ltd. and was first backed by BoostVC and Bitmain Technologies. The relaunch included some new branding with a sharply redesigned platform interface.
Coinut also added a new insurance fund to protect against losses, which is welcome news. Additionally, API support has been fully introduced with both REST and WebSocket APIs available.
Xinxi Wang has been in a generous mood, excited about Coinut’s relaunch and recently noted that the exchange has decided to donate 50% of profits from LTC/BTC trading to the Litecoin Foundation.
Moreover, with the exchange also adding Ethereum Classic (ETC) support on the relaunch, they will also donate 10% of fees generated from ETC trading to the Ethereum Classic development team.