Morgan Stanley Developers Launch Crypto Derivatives Exchange Phemex

As the crypto markets continue to move on a roller coaster, it seems like adoption is growing steadily. A group of eight former Morgan Stanley core developers announced the launch of Phemex. Phemex is a ‘high-speed’ cryptocurrency derivatives platform that is well-designed for the retail and institutional investors. The new firm is based in Singapore.

In a December 4 press release, the former Morgan Stanley developers came with big claims that the platform is ten times faster than the traditional crypto tradingplatforms. Phemex is now being touted as a low-latency trading platform with no delays. It can reach speeds of up to 300,000 transactions per second while providing 100x leverage. The new platform alleges to have an order entry and response time of ‘less than 1 millisecond’.

The platform offers Bitcoin, Ethereum, EOS, Litecoin, and XRP perpetual contracts. In the future, it plans to offer contracts that are backed by traditional finance tools and instruments. It will also look into contracts that are backed by real-world commodities like agricultural products, metals, and energy. Read More...


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