Binance invested in Bitcoin Futures platform FTX
The Futures trade is gaining increasingly Fans. Binance expanding its Investments therefore currently and will put money in the derivatives exchange FTX.
Company keeps dedicated to growth planning
The Bitcoin exchange Binance continues to develop a kind of a global crypto-octopus. Apart from the creation of its own new products, such as their own Ethereum Futures, the company can in the past month is unlikely to be an opportunity to participate in new platforms and Startups promise. Recently, we reported on the Adoption of the Analysis and enjoyment of the DappReview. Now, the next message in the direction of the international competition follows directly. Binance from extending its influence once again. This Time it’s for the umpteenth time to activities in the area of the so-called crypto-derivatives.
It is not the first financial injection in the derivatives area
More specifically: the stock exchange platform FTX. The company allows customers to trade with derivatives. It is a strategically motivated expansion of the portfolio. For one, because Binance has brought with Jex already has a comparable stock exchange in the group. On the other, precisely because Binance allowed since the third quarter of 2019, the self is said to be Futures trading. In addition to Ethereums Ether also Bitcoin and Bitcoin for Cash available to make including the provider Bakkt from the USA competition. In the case of the entry in the case of FTX, the company reported on its website of a minority stake.
Participation should strengthen the market positioning
Through this financial and entrepreneurial support to FTX in the competition to develop better. The exact investment amount was not disclosed, it is to be an eight-digit sum. By the Investment Binance is sure to get a certain say in the matter. Not least in the further positioning of the in-house FTX Token. For other investors it is supposedly not there (yet). Since the spring of this year, the derivatives exchange allows you to Trade Futures on the Bitcoin and various Altcoins. According to the reports, the daily volume puts it in the active trading of around 0.5 billion US dollars. With the help of Binance, the volume of trade could rise soon.
Featured Image: V on S K | Pixabay
