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BitMEX Launches Crypto Options Trading, Targets $500M Volume to Rival Deribit

May 8, 2024, 01:51 PM

BitMEX, a leading cryptocurrency derivatives exchange, has officially launched its options trading service in collaboration with PowerTrade. This strategic move aims to compete directly with Deribit, the current market leader in crypto options trading. BitMEX's new service offers a variety of crypto options margined in Bitcoin, USDT, or USDC, and is part of the company's broader strategy to expand its trading offerings, which already include 100x perpetual swaps. BitMEX CEO Stephan Lutz expressed the company's ambition to achieve at least $500 million in trading volume. The launch also includes promotional rewards for early adopters.