The Bitfinex crypto exchange extends its offer with derivatives based on European stock indices and settled in tether (USDT). For the start one illustrates the German DAX as well as euro 50 accordingly. Bitfinex sees itself thereby as an outrider.
Who wants to participate as a crypto dealer also uncomplicatedly in the trends of the classical stock markets, finds now with the crypto stock exchange Bitfinex a starting point. Because Bitfinex offers immediately derivatives, which link the Stablecoin Tether (USDT) with two important share indices, reports among other things the restaurant magazine Forbes. It is the first time that a stock exchange from the crypto industry offers a financial product, which closes the ditch to classical stock markets, says Bitfinex CTO Paolo Ardoino proudly. On the other hand Bitcoin Futures and options are no more rarity approximately from Bakkt against US Dollar.
Background to stock indices at Bitfinex
Bitfinex is initially listing two perpetual derivatives based on European shares, i.e. contracts without a fixed term. One of them is the German DAX, internationally known as German 30. The second offer is based on the Europe 50, which gathers 50 blue chips from 18 European countries. Trading is possible via Margin Trading with a leverage of up to 100, settlement is in Tether (USDT) through the leading stablecoin for US dollars. To take advantage of the offer, customers must be verified by Bitifinex, i.e. have their identity confirmed and may be required to provide information on the origin of their funds.
According to Ardoino, the new derivatives are particularly aimed at traders who are already active in different markets and can now combine their strategies on a single platform. This also makes risk management easier. Forbes recalls that Bitfinex and Tether continue to be involved in a dispute in the United States involving USD 900 million. Bitfinex has indicated that it is working to resolve this matter.
Conclusion: Bitfinex with interesting advance – but old problems remain
The offer of Bitfinex with derivatives, which couple Tether and DAX and/or Europe 50, is in principle exciting for dealers, who want to develop their Portfolio beyond crypto currencies. But Bitfinex lost much at soil and conversion in the competition of the crypto stock exchanges among themselves not least because of the legal difficulties in the USA, also the Launch of the information network pulse could not change anything at it. Who would like to go completely surely, waits therefore rather, until also other crypto stock exchanges copy the new offer of Bitfinex.