Bitfinex to Launch Crypto Options and a New Stablecoin in 2020

Popular cryptocurrency exchange Bitfinex plans to expand its product range by issuing cryptocurrency options and a gold-backed stablecoin in the first quarter of next year.

Paolo ARDUINO, chief technical officer of Bitfinex, voiced this news in an interview with The Block, noting that perpetual swaps and basket futures, as well as a stable coin called Tether Gold, are being developed. He did not disclose details about the token, but given the name, it will be issued by Tether, a company whose management is also related to Bitfinex.

According to CTO, Bitfinex also turned to various partners, market makers, to ensure the liquidity of their new products. Paolo ARDUINO also noted the following:

“It’s important that people can see the farther value of having cryptocurrencies rather than just trading back and forth between Bitcoin and USD or whatever.”

Bitfinex launched derivatives earlier this year, which allowed traders to use leverage in bitcoins and ethers up to 100x. At the end of October, the exchange added a SegWit address for withdrawing bitcoins, as well as new charting tools.