Bitfinex announced the addition of two new important perpetual contracts to its Derivatives Platform. (EUROPE50IXF0:USTF0) and Germany 30 (GERMANY30IXF0: USTF0) are now available on the platform. The exchange also updated the Product Description page with info about the two stock indexes.
Bridging The Gap
Bitfinex execs believe the new products will help the cryptocurrency market collaborate more and better with traditional markets.
“It’s a huge step for #crypto. While mainstream exchanges are stepping in #Bitcoin, @bitfinex decided it’s time to go full cross-markets! And we’ve #juststarted,” tweeted Paolo Ardoino, CTO at Bitfinex.
The two new products in the Bitfinex Derivatives platform are stock indexes that demonstrate the performance of companies in the Euro region and Germany.
Bitfinex added a new product to the Derivatives Platform as a reference to the CboE Eurozone 50 stock index’s price in Tether.
“The Chicago Board Options Exchange (Cboe) describes the Cboe Eurozone 50 stock index as aiming to represent the performance of the largest 50 European issuers ranked by their full Euro denominated market capitalization whose primary listing is in Euro. It is a price return index. Cboe states that the index is designed for use in the creation of index-tracking funds, derivatives, and as a performance benchmark,” according to Bitfinex.
The other new product is a perpetual contract that shows the price of Cboe Germany 30 Stock index in Tether. This index includes 30 of the largest german issuers and is categorized as a price return index.
Bitfinex has a particular page for Derivative Product Description that publishes and updates info about products in the Derivatives platform. The exchange requires users to read that page for descriptions, terms, and privacies before investing in any contract.
The new products in the Bitfinex Derivatives platform bridge the gap between crypto exchanges and traditional markets. When traders can buy and sell stock index products using stablecoins like Tether, the adoption will surely rise. It can be a good start for other exchanges to consider this kind of product in the futures and derivatives platforms.
If you found this article interesting, here you can find more Blockchain and cryptocurrency news
