BitMEX plans to add spot trading and custodial services

The cryptocurrency derivatives exchange BitMEX is considering expanding its range of services, according to Alexander Heptner, CEO of the 100x Group that operates the platform, in an interview with Bloomberg.

In his words, the talks concern the possible launch of spot trading, brokerage and custodial services.

“We need to move quickly to understand how we want to approach these aspects. Then we will see whether we can find a partner, or build or buy something,” Heptner said.

He declined to comment on BitMEX’s problems with the U.S. Commodity Futures Trading Commission, but said the exchange is looking to improve its relations with regulators.

“I come from a regulated and traditional world. I already had extensive ties with regulators. Now I work on the crypto side and guide it into the regulated world,” the company’s CEO said.

Former BitMEX chief Arthur Hayes left his post in October 2020 after allegations of Bank Secrecy Act violations. He is currently in Singapore and is in talks with U.S. authorities about voluntary surrender.

Representatives of 100x Group announced the appointment of Heptner in early December 2020. Before that, he held leadership positions at Deutsche Börse AG, the Stuttgart Stock Exchange (Börse Stuttgart) and Euwax AG.

Earlier BitMEX imposed restrictions on order placement to avoid a “fat-finger” error.

Back in December 2020, the exchange halted service for unverified users.

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