Speaking on what the future holds for his company in a recent interview, Arthur Hayes, co-founder and CEO of major crypto derivatives exchange— BitMEX, made it known that the firm is looking to open a cryptocurrency options platform.
Crypto Options Trading Platform to Launch in 12- 18 Months
Furthermore, Arthur Hayes revealed that the exchange is hoping to allow people to invest in S&P 500 and popular Nasdaq stocks using bitcoin without ‘Bitcoin-USD risk” and that there are no plans in place for a native cryptocurrency.
Speaking further on the launch of the crypto option platform, Arthur Hayes who was previously an equities trader for Citigroup estimated that project will likely get completed in within 12-18 months.
He stated that:
“We hope to possibly have our own options platform in maybe 12 to 18 months.”Hayes hinted at aspirations to innovate options listing, saying “we have somebody working with some university professors on a complicated new way of doing this.”
Options are a form of financial derivative which allows an investor/trader to buy or sell an asset at an agreed price in future, without any obligation. Options trading was developed to function as a form of hedging, protection or speculation in different market conditions.
BitMEX has no Plans for Native Cryptocurrency
Answering to the question of whether there is a plan in place to launch a native token just like Binance (BNB),
Arthur Hayes, stated that Bitmex has no plans for this, “as it would create more problems than it would solve.”
He further stressed that:
“It’s complicated in terms of what is the legality around that token: is it security? […] We have more than enough issues to deal with […] than creating a whole set of issues because we issued our own token for money that we don’t need any new problems that we don’t need to have.”