Binance, the world’s largest trade by buying and selling quantity, has acquired JEX, a crypto-asset buying and selling platform that gives spot and derivatives buying and selling companies.
The trade introduced the acquisition on Sept. 2, saying, “JEX will be part of the Binance ecosystem as Binance JEX and give attention to additional constructing the crypto-asset derivatives market.”
In response to the announcement, Binance will introduce extra utility to the JEX token and additional present Binance customers with skilled companies together with futures contracts, choices and different spinoff merchandise.
Binance reveals rising curiosity within the cryptocurrency derivatives market
Binance’s acquisition of JEX comes amidst continued curiosity of the trade within the crypto derivatives market.
Binance co-founder Yi He, reportedly stated that JEX developed stable derivatives product choices, that are aligned with Binance’s product roadmaps within the crypto-asset derivatives market. He added:
“We maintain an open thoughts and welcome extra companions to hitch the Binance ecosystem. We look ahead to delivering extra revolutionary spinoff merchandise sooner or later as Binance JEX.”
On Aug. 28, Cointelegraph reported that Binance CEO Changpeng Zhao — higher recognized by his business moniker “CZ” — introduced that Binance was planning to launch futures buying and selling this month. Simply two days earlier, Binance had introduced the launch of its first crypto lending product, permitting customers to earn curiosity from Binance Coin (BNB), Tether (USDT) and Ethereum Basic (ETC).