Bitfinex is one of the top and most liquid cryptocurrency exchanges, it has been subject to controversy in the past due to its tight links with Tether. The crypto-exchange recently begun catching up on derivatives innovation with the introduction of perpetual swaps for crypto-assets and for the Bitcoin dominance (a unique product).
The exchange has announced that they’ll be releasing to derivative products based on indices. The first “Europe 50 Stock Index” and the second “Germany 30 Stock Index”. These derivatives will be perpetual swaps which will get their price index from the top 50 and 30 stocks in Europe and Germany respectively.
The trades will be settles in USDT and Paolo Ardoino commented: “This is the first time that an exchange from the digital asset space has launched a product that bridges the gap with traditional stock markets, representing a significant milestone in the evolution of crypto as an established asset class. Notably, settlement is in Tether. This will facilitate the seamless settlement of cross-asset class trading strategies, hedging and the management of risk.”
Unlike traditional markets, this one will trade 24/7.