Bitfinex and Thalex, a cryptocurrency derivatives trading platform specializing in trading options and futures, have sealed a new partnership. The collaboration aims to extend Bitfinex's portfolio to incorporate the options and futures trading features services offered on Thalex.
In a post on X, Thalex issued a public notice to its users on the integration between the trading platforms, "Today, we are proud to announce the open beta phase of our integration with Bitfinex. The integration removes friction for Bitfinex customers' onboarding, depositing, and trading on Thalex. Any Bitfinex customer can now request access to the beta and try it out," said the exchange.
Today we're proud to announce the open beta phase of our integration with @bitfinex.
— Thalex (@ThalexGlobal) July 17, 2024
The integration removes friction for Bitfinex customers to onboard, deposit and trade on Thalex.
Any Bitfinex customer can now request access to the beta and try it out.
Find out more here:… pic.twitter.com/Y4uThA8363
Commenting on the latest partnership, Paolo Ardoino, the Chief Technical Officer (CTO) at Bitfinex, opined, "Great synergy between Bitfinex and ThalexGlobal. Crypto Options markets are leveling up," said Ardoino.
Bitfinex And Thalex Collaboration Will Benefit Both Parties
Aside from allowing Bitfinex users to access the range of digital asset options and futures commodities traded on the Thalex derivatives platform, it also promises significant improvement for Thalex users.
Notably, the innovative move will further facilitate user onboarding related to the features offered on the Thalex exchange. Thus, it provides a model for future collaborations between exchange platforms to adopt new products and services for customers.
Consequently, Bitfinex and Thalex anticipate a surge in options and futures trading on their platform. The anticipated spike stems from both trading outlets, contributing 5% to the $100 billion daily recorded crypto derivatives volume.
Stablecoin Trading Implications
Noteworthy also is that stablecoin futures trading, one of the crypto derivative products that the collaboration hopes to promote, contributes to a steady and organized market situation.
Hence, the integration will tackle issues stemming from the inadequate number of platforms built to facilitate stablecoin-based contracts. Additionally, it will correct sufficient liquidity and the appropriate technology shortages, which are negatively impacting the trading of crypto derivatives.