BitMEX plans to launch an options trading platform to compete with Deribit

According to The BlockreportsBitMEX, one of the world's largest operators of cryptocurrency exchanges, is looking to expand new markets with new derivatives products, its CEO said in an industry podcast.

Arthur Hayes, CEO and co-founder of BitMEX, said the company best known for launching bitcoin futures forever is now challenging options, a move that could put it in competition with Deribit.

"We hope to have our own options platform within 12 to 18 months." The CEO of BitMEX is at & NBSP; Venture Coinist Podcast  The said.

BitMEX is working with a group of university professors to develop a complex new method. Options, like futures, provide investors with a way to hedge their asset positions. Hedging an asset position is an action or strategy aimed at reducing risk. The common form of hedging is to trade in one market or asset to hedge the risk in another market or asset.

"Specifically, options give traders the right to buy a certain amount of assets at a fixed price in the future." Hayes added.

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