Huobi Group, a Singapore-based crypto exchange, launched the Huobi Derivative Market exchange Tuesday. Dubbed the Huobi DM, the new offering allows users to place bets on cryptocurrency prices across “several countries.”
“We see more and more sophisticated investors and traders … looking to gain exposure, including institutional players. At the same time, we think many experienced, successful cryptocurrency traders are looking for a broader range of investment tools than has traditionally been available,” said Joshua Goodbody, general counsel of Huobi’s global institutional team.
Huobi DM users will now be able to buy or sell cryptocurrencies — including bitcoin — at fixed prices on a set date. Traders will be able to place short or long positions through the market’s futures contracts and hedge their risk amid continued price volatility.
While similar services already exist, Huobi DM is hoping to differentiate with its 24-hour monitoring, insurance protection of up to 20,000 BTC, and a circuit-breaker that prevents traders from forced liquidation similar to those employed by New York Stock Exchange. (Source: Huobi)
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Singapore-based Huobi launches its crypto derivatives marketplace written by Isabel Woodford @ https://www.theblockcrypto.com/tiny/singapore-based-huobi-launches-its-crypto-derivatives-marketplace/ November 29, 2018 Isabel Woodford