BitMEX unveils transformation into one of the world’s largest regulated crypto-derivatives exchanges

BitMEX aims to become one of the world’s largest regulated crypto-derivatives exchanges and to act as a catalyst for change in the industry. Details of the strategy’s implementation were provided by Alexander Heptner, head of the 100x Group, the platform’s operator.

We brought professional-grade derivatives to crypto but that’s not the end of the journey. Today, our CEO @AlexHoeptner announced expansion plans into 5 new global business segments — Spot, Brokerage, Custody, Information Products, and Academy. More here: https://t.co/tGUaoqI55h pic.twitter.com/YymocgVM0k

— BitMEX (@BitMEX) April 22, 2021

The plan envisages adding five new business units:

• spot trading;
• brokerage;
• custody services;
• information products;
• academy.

Top management will push to obtain licenses in the most attractive jurisdictions.

In BitMEX’s core derivatives business, the company plans to continue expanding its product lineup.

Heptner announced the launch of fully functional spot trading accessible to residents of all countries.

Plans include establishing a licensed brokerage firm offering services including on the over-the-counter market.

A regulated proprietary custody solution is planned.

As these directions develop, the exchange will form a division for information products. To help users navigate the ecosystem, the trading platform will create BitMEX Academy, which will offer educational content.

To implement the strategy, the team will be expanded. In an interview with The Block, the executive did not rule out raising capital in the form of an IPO, acquiring a SPAC or issuing tokens.

The former head of the Stuttgart Stock Exchange, Alexander Heptner took the post as head of 100x Group in December 2020.

In March 2021, he revealed part of the planned changes in BitMEX’s transformation strategy.

In October 2020, former BitMEX CEO Arthur Hayes resigned along with the rest of the leadership after investigation by the US Commodity Futures Trading Commission and charges by the US Department of Justice.

In April 2021, Hayes surrendered to American authorities. 

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