BitMEX Partners with PowerTrade, Launches Crypto Options to Rival Deribit

May 8, 2024, 01:51 PM

BitMEX has launched a new crypto options trading service in partnership with PowerTrade, aiming to compete directly with Deribit and other major players like Binance, OKX, and Bybit. The service, which allows trading of a wide range of crypto options margined in Bitcoin, USDT, or USDC, is part of BitMEX's strategy to expand its market presence. BitMEX, known for inventing the perpetual swap and offering 100x leverage, is targeting at least $500 million in trading volume. The launch is marked by promotional rewards for early users.