BitMEX Announces Listing of Quanto Futures on Binance Coin, Polkadot and yEarn Finance

The cryptocurrency derivatives exchange BitMEX will expand its list of supported trading instruments with three quanto futures contracts denominated in the stablecoin Tether (USDT).

We’re launching Binance Coin (BNB), Polkadot (DOT), and https://t.co/swQI5md3eu (YFI) underlying quanto futures contracts on 30 October 2020. Further details here:https://t.co/URTCaG2VgX

— BitMEX (@BitMEX) October 23, 2020

On 30 October, the exchange will launch quanto futures on Binance Coin (BNB), Polkadot (DOT) and yEarn Finance (YFI). The leverage limit for the first asset is 33x, and for the other two — 25x.

BitMEX explained that adding the YFI token to its product line would broaden DeFi-linked contracts. In September the platform launched quanto futures on Chainlink (LINK).

“By the end of the year we plan to add several more altcoin-based products,” the exchange said.

Earlier, Chainalysis flagged BitMEX as a high-risk exchange amid its regulatory troubles in the United States.

Earlier, on October 1, the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against BitMEX and its owners. They are accused of operating an unregistered trading platform and violating CFTC rules concerning KYC/AML procedures.

Separately, the U.S. Department of Justice charged the exchange’s leadership with violations of the Bank Secrecy Act.

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