Cryptocurrency exchange, OKEx, is set to launch crypto-based futures contracts formed on Tether Stablecoin.

As of the beginning of November, OKEx began to support the following Stablecoin Tether cryptocurrencies with leverage between 1 and 100x:

  • Bitcoin
  • Ether 
  • Bitcoin Cash
  • EOS 
  • XRP
  • Bitcoin SV
  • Tronix

The new traders can manage the exchange’s linear derivatives easily. Owners need not require to reduce the margin risk.

Lennix Lai, the financial market director at OKEx, stated, 

“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.”

OKEx decides to keep adding further stablecoin-based trading derivatives in the future. Lai said, 

“We would continue to research and add stablecoin-based derivatives so as to offer a simpler hedging instrument for traders who normally book their profit and loss in USD value.”

To bring in price equitability, the firm’s futures contracts will be based on an average of Tether prices of the following crypto exchanges:

  • Huobi
  • Coinbase 
  • Binance
  • Bittrex

The settlement of the contract will take place at 8:00 UTC every day.

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