BitMEX has continued to add 14 new coins to its platform after the derivatives exchange rebranding. This is in response to competing with more traditional exchanges.
Since September, the following coins have been added: $USDC, $TRON, $SOL, $DAI, $FTM, $BUSD, $AAVE, $SHIB, $WTC, $CRO, $MANA, $FTT, $SAND, and $OKB. It comes after the company’s first foray into non-crypto products, when it launched FX perpetual swap contracts in August, allowing users to trade more than 20 contracts tied to foreign currencies.
“As more investors and traders enter the space and strategies become increasingly mature, those of us who provide products and services to power that investment must be continually looking to adapt to emerging trends and needs,” said Alex Höptner, CEO of BitMEX, in a statement.
Höptner went on to say that the decision to move beyond derivatives and accommodate market demands was a strategic one.
“We are now focusing on our ‘beyond derivatives’ transformation strategy which includes a range of new products and updates which allow our users to do more with their crypto as we continue to facilitate the emergence of digital assets in the mainstream,” he said.
Höptner took over as CEO of BitMEX in late 2020, months after the company’s founders, Arthur Hayes, Ben Delo, and Samuel Reed, were charged with one count of violating the Bank Secrecy Act and a second count of conspiring to violate it.
After pleading guilty earlier this year, all three avoided jail time. Hayes was sentenced to six months in home confinement as part of a two-year probationary period. Delo and Reed received probation for 30 and 18 months, respectively.
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