TechFlow News, June 21 — According to CoinDesk, cryptocurrency derivatives exchange BIT has launched options trading linked to Cardano’s ADA token, priced and settled in U.S. dollars. One ADA options contract represents one ADA.
The product was launched in collaboration with strategic partner Darley Technologies and market maker DWF Labs. BIT stated it plans to offer options trading on other altcoins in the future, including meme coins. BIT said: “BIT’s unified margin system allows users to use all assets in their accounts as collateral for trading, with discounted rates. The current discount rate for ADA is 15%, meaning users can use ADA as collateral and trade options at a 15% discount.”
Briefly, BIT was launched in August 2020 as a spin-off from Matrixport and is one of the leading crypto options trading platforms, offering innovative USD-collateralized trading pairs.
