BitMEX partners with PowerTrade to offer new crypto products.

BiMEX is partnering with crypto options platform PowerTrade to explore and offer new trading products to professional traders. The strategic partnership is backed by Ascend Ventures, Pantera Capital, Ledger Prime and QCP Capital.

Crypto derivatives exchange BitMEX has announced a strategic partnership with PowerTrade, a crypto options platform backed by Ascend Ventures, Pantera Capital, Ledger Prime and QCP Capital.

The cooperation between the two platforms is for professional traders to research new products and bring them to market. The integration with PowerTrade will see BitMEX expand its portfolio while focusing on further innovation to enhance its users' trading experiences.

Speaking about the partnership, BitMEX CEO Stefan Lutz said:

“The strategic partnership with PowerTrade exemplifies our desire to provide crypto traders with the most profitable opportunities on the most secure and reliable trading platform in the market. We recognize the dynamics and competitiveness of the market, and we hope to set new standards for crypto trading in the future.”

BitMEX's latest effort comes amid growing demand for new derivatives products from professional traders. Currently, traders can access more than 100 derivatives contracts on the platform, and spot trading is available for 11 major pairs.

The latest listing is for Fantom, a layer one modern contract platform set to list on December 7, 2023, with FTM permanently exchanging hands.

Listen up $FTM fans as @FantomFDN is coming to BitMEX tomorrow with 10x leverage. For the latest list, read on. 👇

— BitMEX (@BitMEX) December 6, 2023

According to the listing on the BitMEX website, the FTM/USD Perpetual Swap lists an amount up to 10x.