Details Of BitMEX’s XRP-USD Swap
Details Of BitMEX’s XRP-USD Swap: BitMEX, a cryptocurrency exchange and derivative trading platform has announced its plans to launch its XRP-US Dollar (XRP/USD) quanto swap. The quanto swap which allows traders to speculate on the price of XRP/USD without having to deposit US dollars. While the price of XRP will be tracked using USD, a third foreign currency will be used to settle the contract at a particular interest rate.
According to BitMEX, the new derivative will be launched on February 5, 2020. BitMEX plans to scrap its UP and DOWN contracts for XRP, which give traders a way to bet on the potential upside and downside of the third-largest cryptocurrency exchange platform.
BitMEX which was founded by Arthur Hayes, Samuel Reed and Ben Delo in 2014 is registered in the Seychelles and has offices worldwide.The cryptocurrency exchange and derivative trading platform is owned and operated by HDR Global Trading Limited.