The leading cryptocurrency exchange in the world by trading volume, Binance, has just acquired derivatives specialist JEX. It will run its derivative products such as margin and futures trading.
Binance has just made a major purchase which confirms it is moving headfirst into the derivatives trading market for cryptocurrency. JEX, a Chinese company, specializes in cryptocurrency-related derivatives products such as options and futures contracts. According to reports, it will be rebranded as ‘Binance JEX’ and its existing team will stay intact.
With the acquisition, it seems that Binance as officially jumped in the ‘arms race’ in the crypto-derivatives market. Binance announced margin trading this summer and has since been eying also offering options and futures trading. It seems that JEX will make this happen.
According to the exchange, new financial products will launch in September. Two trading platforms are expected then which will be available to the public for testing.