Binance Secures Crypto Options Trading Platform
By Mark Lemon – Cryptocurrency Specialist
The world’s largest cryptocurrency exchange, Binance, has just acquired crypto-asset trading platform JEX, now labelled as Binance JEX. The new platform will offer derivatives products such as options, perpetual contracts, and futures, all different investment classes than buying Bitcoin.
Binance gave a statement saying, “JEX will join the Binance ecosystem as Binance JEX and focus on further building the cryptoasset derivatives market.” This is in hopes to provide users with professional services including options, futures contracts and other derivative products, all different from buying and selling Bitcoin itself.
JEX touts itself as being the world’s first blockchain asset transaction platform to introduce options trading for Bitcoin, Ethereum, EOS, and Litecoin.
Binance will also be managing the JEX token, which is run by the JEX foundation, potentially increases the utility of the token. The exchange has stated that the tokens will be distributed to users for community incentives and marketing activities.
During this time, Binance also launched two test platforms for its upcoming crypto futures products, where users can vote for their favourite futures testnets. The exchange is also set to launch crypto lending products where users can earn interest from Tether, Binance Coin and Ethereum Classic. Users will be required to buy crypto on these chains in order to lend.
This is just another venture for Binance who welcomes more partners to join their ecosystem to introduce greater functionality for the industry. Whether that be platforms to buy and sell cryptocurrency or products that derive from them.
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Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
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For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
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