FTX Exchange to Launch Bitcoin Options Trading

According to Sam Bankman-Fried, CEO of Binance-backed exchange, the Bitcoin options trading volume hit $1M mark in 2 hours after the launch 
13 January 2020   214

The FTX cryptocurrency derivatives platform launched the trading of Bitcoin options. This was announced by its CEO Sam Bankman-Fried.

According to him, in about 2 hours the volume of options trading reached $ 1 million.

At the same time, he did not specify on which particular crypto assets the options were launched, however, only Bitcoin options are displayed on the platform’s website.

According to CoinGecko, FTX is the eighth largest crypto asset exchange with a daily trading volume of $ 277.8 million.

FTX was founded in early 2019 and supports derivatives trading products, including quarterly and perpetual contracts for various crypto assets.

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   294

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.