Arthur Hayes, BitMEX CEO Unveils Plan To Open Crypto Options Platform
Co-founder and CEO of crypto derivatives exchange BitMEX, Arthur Hayes, has revealed that the firm is hoping to open a cryptocurrency options platform in the medium term. Hayes revealed this during an interview on the Venture Coinist podcast which took place on April 12th.
Hayes indicated a rough timeline for the prospective launch, stating 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 type of financial derivative that gives a buyer the right but not the obligation to buy or sell an asset at an agreed price in future. They are designed to serve as strategies for hedging, protection or speculation in different market conditions.
BitMEX currently records close to $1.1 billion in daily traded volume, making it one of the world’s largest crypto exchanges by reported volume.
Hayes has recently predicted that Bitcoin will get back to the $10,000 price point this year, anticipating the market recovery will begin in early Q4 2019.