Following a successful beta period, Thalex and Bitfinex Derivatives unveil an integration to create a comprehensive offering in Bitcoin and Ethereum derivatives
SEYCHELLES, November 18 2024 — Thalex, a crypto derivatives exchange offering stablecoin-settled options, announces its integration with Bitfinex Derivatives is now open to the public. All Bitfinex Derivatives customers can now access the Thalex integration to make full use of its options, futures, and perpetuals trading suite.
This integration removes friction for Bitfinex Derivatives users, who can now onboard through a simplified KYC-sharing process, freely transfer assets, and access Thalex’s interface directly from the Bitfinex platform.
Bitfinex is one of the longest-running exchanges in crypto, trusted by crypto pioneers. The integration brings the potential to unlock new flows in options and futures by unlocking more ways to express a trade as well as the ability to generate yield on Bitcoin or Ethereum through covered calls or cash and carry.
For Thalex, the partnership marks the beginning of its exchange distribution strategy. Crypto options comprise less than 5 percent of derivatives volumes today, but they are on track to become the fastest-growing crypto derivatives segment within the next three to five years based on continued institutional adoption and retail sophistication.
With many crypto exchanges focussing on spot or perpetual markets, the cost and time needed to upgrade their platform to accommodate options, in addition to the investments required to bootstrap liquidity, is prohibitive relative to the market opportunity. However, Thalex’s partnership model is a solution that eliminates upfront costs and provides a revenue share on trading fees. This results in a mutually beneficial agreement as exchange partners gain access to Thalex’s product and liquidity, and Thalex gains access to a large pool of potential clients.
Additionally, Thalex recently launched its Market Velocity Program (MVP) aimed to recognize and incentivize active participants on its platform through USDt rewards that are allocated based on a participant’s share of trading fees paid.
In its first week, the program increased volume trading to $30 million, after offering a highly competitive pool of roughly $250,000/month, or around $8,200 each day, to distribute as a volume rebate, exceeding its core competitor’s $200,000 winter competition. The program is open to anyone and is designed to enable fair competition between retail and institutions. As of now, a significant part of the early volume increase has been driven by retail users running automated trading strategies.
“We are very proud to announce our exchange integration with our strategic partner Bitfinex, which marks the first step of our B2B2C go-to-market strategy,” says Hendrik Ghys, Co-Founder of Thalex. “We look forward to empowering Bitfinex Derivatives customers with new ways to trade, hedge or generate yield on Bitcoin and Ethereum.”
About Thalex
Founded in 2020, Thalex is a derivatives exchange specializing in crypto options, futures & perpetuals that are stablecoin-settled. Thalex empowers individual and institutional traders with low fees, margin efficiency, robust connectivity and native support for combination orders. Thalex also offers its platform to integrate other exchanges to enable frictionless onboarding, transfers and derivatives trading to their customers. To learn more, please visit https://www.thalex.com/.
About Bitfinex
Founded in 2012, Bitfinex is a digital token trading platform offering state-of-the-art services for traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market and margin trading for a wide selection of digital tokens. Bitfinex’s strategy focuses on providing unparalleled support, tools, and innovation for experienced traders and liquidity providers around the world. Visit www.bitfinex.com to learn more.