United States-based professional trading infrastructure firm Trading Technologies International recently partnered with BitMEX to open up its products to crypto derivatives traders. The news was announced with a press release on April 17.
The partnership has been done between TT and the owner of BitMEX, HDR Global Trading. The latter offers several market access tools and services, which it will now offer to BitMEX traders.
Furthermore, TT traders will be able to trade on BitMEX. This will allow them to gain access to its crypto products. The products include Bitcoin (BTC)-based XBTUSD Perpetual Swap.
“We expect this partnership will grow trading volume on BitMEX, not only through our existing clients who want access to cryptocurrencies, but also through new users keen to leverage professional trading software and enjoy better trading experiences,”
Rick Lane, chairman and CEO of TT, commented in the press release.
“This partnership will not only extend BitMEX’s unique services to Trading Technologies’ discerning clients, but advance our mutual vision to unlock access to cutting-edge cryptocurrency products,”
BitMEX CEO Arthur Hayes was quoted as saying in the press release.
Despite difficulties regarding sudden Bitcoin price movements, the company has sustained demand and continues to expand its feature set.
In another news reported by CoinMarketFeed, One of Canada’s top crypto exchanges, Coinsquare is all set to launch a stablecoin backed by the Canadian dollar dubbed eCAD. The new coin will be at a 1: 1 ratio with Canadian dollars. Per the exchange, new coin will provide investors an alternate option to coins backed by the US dollar.
The crypto community has time and again stressed the importance of audits for stablecoin projects. This is because some stablecoins have been suspected of not possessing the appropriate backing reserves.
Last year, the stablecoin Tether (USDT) was under radar as the U.S. government following suspicions that the project did not have the number of dollars to back the currency at its claimed 1:1 ratio.
In March 2019, Tether was further wrapped up in a controversy after social media users noticed it had removed previous claims of the altcoin being fully backed by U.S. dollars.
Also, Bibox, a leading crypto exchange is all set to launch an incubator for blockchain projects. The project will be called Bibox Orbit. The project seeks to provide the best environment for high potential blockchain projects and also assist them in building and long-term development.