BitMEX Launches 24/7 Crypto-Margined FX Perpetual Swaps

• Building on BitMEX’s expertise in cryptocurrency derivatives, the launch represents a revitalized forex-linked perpetual product extension.
• FX Perpetual Swaps eliminate the need for fiat deposits, bank transfers, and broker onboarding by enabling traders to post cryptocurrency as margin.

Six FX Perpetual Swap contracts have been introduced by BitMEX today, giving traders round-the-clock access to international currency markets using crypto as collateral.

The new offering, which offers exposure to some of the most traded currency pairings without depending on conventional brokers or fiat funds, comprises EUR/USD, USD/JPY, GBP/USD, AUS/USD, USD/CHF, and USD/CAD. Even on weekends when traditional currency markets are closed, the contracts are always open.

Building on BitMEX’s expertise in cryptocurrency derivatives, the launch represents a revitalized forex-linked perpetual product extension intended to satisfy changing trader demand with a more targeted and scalable offering.

FX Perpetual Swaps eliminate the need for fiat deposits, bank transfers, and broker onboarding by enabling traders to post cryptocurrency as margin. With a 0% base interest rate and up to 100x leverage, the contracts do away with the overnight swap costs that are often imposed by conventional forex providers.

The chosen pairings account for a significant portion of all forex activity worldwide. While USD/JPY and GBP/USD are often utilized to convey opinions on interest rates, monetary policy, and global risk sentiment, EUR/USD alone makes up over 23% of daily trade activity.

BitMEX’s perpetual product offering allows for ongoing trading and real-time reaction to macroeconomic developments, in contrast to conventional currency exchanges that shut for around 48 hours over the weekend. In order to provide continuous access, pricing is generated from aggregated external data during market hours and switches to internal order book activity during off-hours.

Based on customer demand, BitMEX intends to increase the variety of TradFi perpetual products it offers, adding on its current stock and commodity offerings, which include products like WTI crude oil and silver (XAG). This wider growth is a reflection of BitMEX’s plan to use a single derivatives platform to connect conventional financial markets with crypto-native infrastructure.

The OG cryptocurrency derivatives exchange, BitMEX, offers expert cryptocurrency traders a platform with deep native liquidity, minimal latency, and unparalleled dependability. Since its establishment, no crypto has been lost due to hacking or incursion, giving BitMEX customers the assurance that their money is safe and that they have access to the tools and products needed to make a profit.

Additionally, BitMEX was one of the first exchanges to provide Proof of Reserves and Proof of Liabilities data on chain. In order to guarantee that client assets are securely held and separated, the exchange nevertheless releases this information twice a week. Users may visit BitMEX Blog or www.bitmex.com and follow Discord, Telegram and Twitter.