Bitfex, formerly known as IDAP before receiving an investment from Sparx Ventures, announced today that its cryptocurrency derivatives exchange will launch to the public on December 17th.
Back in July, Sparx Ventures, an early-stage venture capital firm focused on investing in and mentoring promising, high-growth technology businesses in SE Asia, joined the IDAP project as a strategic partner and investor.
Currently, perpetual contracts, quarterly futures, and exchange quoted spreads for bitcoin (BTC) are available for trading. A secure wallet solution has been implemented, with Casa’s 3 out of 5 multi-signature deep cold storage being utilized ensuring maximum fund protection. Furthermore, BFX, Bitfex Exchange’s native utility token, which provides zero trading fees, is already trading in the market.
“The coming year will be an amazing one for Bitfex. We have great plans for the first year of the new decade. Derivative contracts for major cryptocurrencies like ETH will become available on the exchange. We’ll also add more trading products to our lineup, including options along with USDT based margins for derivatives trading. Our cutting-edge Desktop Trading System with ‘ladder-based point-and-click’ trading will launch in 2020. Point-and-click ladder trading interface for web platform will also become available.”
– The Bitfex Team
For a more detailed summary of the trading platform operation along with contract specifications check out the official Bitex documentation.
Until the December 17th public launch, those interested to try out the exchange can request access by emailing support@bitfex.com.