{"id":115604,"date":"2021-03-05T09:36:07","date_gmt":"2021-03-05T09:36:07","guid":{"rendered":"https:\/\/precoinnews.com\/?p=115604"},"modified":"2021-03-05T09:36:07","modified_gmt":"2021-03-05T09:36:07","slug":"bitmex-plans-to-add-crypto-spot-trading-custody-services","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/bitmex-plans-to-add-crypto-spot-trading-custody-services\/","title":{"rendered":"BitMEX Plans to Add Crypto Spot Trading, Custody Services"},"content":{"rendered":"

Crypto derivatives exchange BitMEX is considering to expand its offerings by adding spot trading, brokerage and custody as its three new services, 100x CEO Alexander H\u00f6ptner revealed in a recent interview with\u00a0<\/span>Bloomberg<\/span><\/em>.<\/span><\/p>\n

\u201cWe have to very fast make up our mind how we want to approach these aspects and then see whether we could find a partner or whether we build something or buy something,\u201d H\u00f6ptner said.<\/span><\/p>\n

Founded in 2014, BitMEX became a top cryptocurrency derivatives platform with its 100x leverage on futures instruments. However, it also faced heavy criticisms for offering sophisticated financial instruments with none or minimum regulatory oversights.<\/span><\/p>\n

H\u00f6ptner, the former B\u00f6rse Stuttgart Chief Executive, took charge of the cryptocurrency exchange after Arthur Hayes, BitMEX\u2019s Co-founder and public face, stepped down from day-to-day operations due to the lawsuit against him by US prosecutors.<\/span><\/p>\n

Siding with the Regulators<\/span><\/h2>\n

The new BitMEX CEO is focused on making amends with global regulators. \u201cWe are approaching regulators where we are currently present, but we will also reach out to regulators where we are not,\u201d he said.<\/span><\/p>\n

Indeed, the exchange is investing heavily in\u00a0boosting its compliance methods and earlier announced that every account is now KYC verified.<\/span><\/p>\n

BitMEX\u2019s entry into the spot market is logical given its loss of the market share to giants like Binance, Huobi and OKEx, all of which emerged as crypto spot trading venues. And, with the increased institutional demand in cryptocurrencies, custody and brokerage businesses also boomed, which may become BitMEX\u2019s next big service area.<\/span><\/p>\n

\u201cWe have to very fast make up our mind how we want to approach these aspects and then see whether we could find a partner or whether we build something or buy something,\u201d H\u00f6ptner added.<\/span><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Crypto derivatives exchange BitMEX is considering to<\/p>\n","protected":false},"author":3,"featured_media":115603,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nBitMEX Plans to Add Crypto Spot Trading, Custody Services - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/bitmex-plans-to-add-crypto-spot-trading-custody-services\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BitMEX Plans to Add Crypto Spot Trading, Custody Services - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Crypto derivatives exchange BitMEX is considering to\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/bitmex-plans-to-add-crypto-spot-trading-custody-services\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-05T09:36:07+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/03\/ccryptafotobitmex.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/bitmex-plans-to-add-crypto-spot-trading-custody-services\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/bitmex-plans-to-add-crypto-spot-trading-custody-services\/\",\"name\":\"BitMEX Plans to Add Crypto Spot Trading, Custody Services - 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