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

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“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

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.