OKEx launches 100x USDT futures with BTC, ETH, LTC, XRP and more

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OKEx, a bitcoin and crypto asset exchange headquartered in Malta, announced the launch of USDT futures trading, served as a virtual derivative product that is quoted and settled in USDT.

Each contract has a face value of a fixed amount of digital tokens. Traders can long or short a position to profit from the increase or decline of a cryptocurrency’s price respectively.

Key features include:

  • Linear Contract – without the need to hedge the margin risk of inverse contracts
  • Leverage Level –  up to 100x
  • Supported Markets – BTC, EOS, ETH, LTC, BCH, XRP, ETC, BSV, TRX
  • Trading Hours – 24/7
  • Daily Settlement

“Most of the time, users are not willing to hold altcoins as margin, and they also see inverse contracts itself are complicated to understand. We see this linear contract would be an open door to many new retail traders. At OKEx, we’ve developed a safe, reliable, and stable environment for cryptocurrency trading, and strive to offer new services based on our customers’ interests. We would continue to research and add stablecoin-based derivatives so to offer a simpler hedging instrument for traders who normally book their profit and loss in USD value.”
– Lennix Lai, Financial Market Director at OKEx

USDT futures contracts will be launched on November 14, 2019, and a trading simulation contest will start on November 5, 2019, the contest winner will receive 10,000 USDT.

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