Wednesday, May 5, 2021

Bitfinex Launches Cardano (ADA) and Stellar Lumens (XLM) Perpetual Contracts

According to a press release, Bitfinex derivatives, the cryptocurrency derivatives platform of the leading exchange Bitfinex, has today 3rd February 2021 announced the launch of Cardano (ADA) and Stellar (XLM) perpetual contracts.

Cardano (ADAF0:USTF0) and Stellar (XLMF0:USTF0) went live on Bitfinex derivatives at 10 AM UTC. According to the report, each contract will offer users up to 100x leverage and will be settled in Tether (USDT).

Read Also: Grayscale Files New Trusts for Cardano (ADA), Monero (XMR), Polkadot (DOT), and Two Others

Reacting to the new development, Paolo Ardoino, CTO at Bitfinex Derivatives, said:

“We’re pleased to add Stellar and Cardano to the growing portfolio of perpetual swaps available to trade on the exchange. We anticipate great interest in these products, especially from funds and professional investors.”

It’s worthy of note that the Bitfinex Derivatives platform and its products are only available in eligible jurisdictions, and are exclusive to verified users.

It’s stated in the press release that the derivatives platform is provided by iFinex Financial Technologies Limited. References to Bitfinex Derivatives in the press release are references to iFinex Financial Technologies Limited.

Read Also: Crypto Trader Lark Davis Is Bullish on Cardano (ADA) As Goguen Phase Gears to Roll Out

All deposits, activities, and users are subject at all times to all of the terms of service in effect on Bitfinex. U.S. persons are not permitted to use Bitfinex or any of its services.

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Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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