Crypto exchange Bitfinex announced the launch of derivatives for stock indices, which are calculated in the stablecoin Tether.
New derivatives - perpetual swaps on Europe 50 and Germany 30 - offer access to traditional equity markets. Europe 50 is the STOXX Europe 50 index, which covers 50 stocks from 18 European countries. Germany 30 is the Deutscher Aktienindex (DAX) index of the 30 most comprehensive German corporations listed on the Frankfurt Stock Exchange.
“CME has entered the cryptocurrency market with Bitcoin futures. Bitfinex is now entering the traditional markets,” Paolo Ardoino, CTO of Bitfinex and Tether.
Bitfinex wants to expand its portfolio of investment products to provide crypto traders with access to traditional markets on a single platform, he said. “High-frequency traders account for about 80% of the trading volume on our exchange. We adapt to their requirements and see this proposal as an opportunity to improve trading strategies for multiple asset types, ”added Ardoino.
Europe 50 and Germany 30 perpetual swaps are offered with up to 100x leverage. According to Ardoino, the new tools are available in several jurisdictions for verified users only.
Bitfinex also recently launched USDT perpetual contracts for the Euro, British Pound, and Japanese Yen.