Cryptocurrency exchange OKEx is to launch a range of cryptocurrency-based futures contracts settled in the stablecoin tether (USDT).
The exchange will support USDT pairs including bitcoin (BTC), ether (ETH), bitcoin cash (BCH), EOS, XRP, bitcoin SV (BSV) and Tron (TRX) with leverage between 1 and 100x when trading commences on Nov. 6, according to a press release issued Tuesday.
The firm claims its linear futures contracts will be easier for newbie traders to handle, as holders do not have to hedge the margin risk as they would with inverse contracts.
“Most of the time, users are not willing to hold altcoins as margin, and they also see inverse contracts itself are complicated to understand. We see this linear contract would be an open door to many new retail traders,” said OKEx’s financial market director, Lennix Lai…