Binance procures crypto trading platform JEX based in Seychelles
- Binance has shown continued interest in the crypto derivatives market, an observation backed by its acquisition of JEX.
- The company intends to offer more innovative crypto-asset derivative products in future as Binance JEX.
Binance, the largest cryptocurrency exchange firm across the globe, reportedly announced the acquisition of JEX, crypto-asset platform for trading which provides derivatives and spot trading services.
Binance announced the procurement on September 2, 2019 stating that JEX would join the company as Binance JEX and would aim at developing the market of crypto-asset derivatives.
Reports cite, Binance will bring more utility for the JEX token and would further deliver Binance clients with professional services that would include futures contracts, options as well as a number of other derivative products.
Acquisition of JEX comes at a time when Binance has shown continued interest in the crypto derivatives market.
Yi He, co-founder of Binance stated that the firm is open minded and would welcome more companies to collaborate with and join the Binance family. Yi added that the firm looks forward to offering more innovative crypto-derivative products in future as Binance JEX.
Changpeng Zhao, CEO at Binance recently stated that Binance had plans to unveil futures trading in August. Changpeng added that few days prior, Binance had announced the unveiling of the company’s first crypto lending product, enabling clients to gain interest from Ethereum Classic (ETC), Binance Coin (BNB) and Tether (USDT).
About Binance:
Founded in 2017 and headquartered at Malta, Binance is an international cryptocurrency exchange that offers a platform for more than 100 cryptocurrencies trades. The company claims to operate over 1,400,000 transactions per second.
About JEX:
JEX Exchange, operated by JEX Exchange Co. Ltd., is an efficient Crypto options and Bitcoin futures trading platform, that is dedicated towards the development and innovation of blockchain futures, options trading derivatives and models. JEX is committed to maintain its leading position in the market with number of innovative options as well as other derivatives as the company’s core products.
Source credit: https://cointelegraph.com/news/binance-acquires-seychelles-based-crypto-asset-trading-platform-jex
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