OKEx partners with India’s largest cryptocurrency trading platform, CoinDCX to launch a new crypto futures product in India.
On Feb. 14 the announcement was made despite ongoing uncertainty regarding cryptocurrency regulation in India, major global crypto exchange OKEx made another push in the country’s market.
BIG NEWS!! CoinDCX has partnered with @OKEx for #DCXfutures, India's most liquid crypto futures platform with leverage up to 15x. Looking forward to continued our collaboration with @OKEx. Read more here:https://t.co/iex6x6eWuI#TryCrypto — CoinDCX: Best Crypto Trading Platform (@coindcx) February 14, 2020
As part of the partnership, OKEx will make a major step into the Indian cryptocurrency market, enabling more liquidity with its extensive expertise in developing world-class futures.
The partnership purportedly unlocks CoinDCX’s new crypto futures product, DCXfutures, that will enable users to trade futures contracts with major cryptocurrencies with up to 15x leverage.
According to the firm, the futures contracts will be available for at least eight coins including:
Bitcoin
Ether
XRP
Bitcoin Cash
Litecoin
EOS
Cardano
Tron
Additionally, users will be able to trade perpetual futures contracts with Bitcoin and Ether, the announcement reads.
According to the firm, maker fees will account for 0.2% at the DCXfutures launch, while the service will be initially open for select users on an invitation-only basis. Once available for the general public, users will be able to access DCXfutures from a single wallet from Q2, 2020.
Zac Zou, head of OKEx India said:
“As one of the largest economies in the world, India is primed to be the driving force behind the mass adoption of cryptocurrencies, which is why we are keen on adding more equitable currencies to the ecosystem. We believe having a variety of options to transact digital currencies will bolster the growth of economy in India as it positively impacts both crowdfunding and institutional funding”
Sumit Gupta, co-founder, and CEO at CoinDCX added:
“With the huge potential of cryptocurrency markets to accelerate economic growth and wealth generation in India, we believe that this collaboration takes India one step closer to joining the ‘5 trillion dollar club’ as one of the fastest growing economies in the world, allowing us to avail of new opportunities and take on new challenges.”
Source: Cointelegraph | Image: The Coin Republic
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