BitMEX adds spot and crypto derivatives trading to mobile app

BitMEX has enhanced its mobile app by introducing the “Trade” section to provide access to spot and crypto derivatives trading.

The “Trade” section provides users with tools to execute trades, track open positions, and monitor 24/7 price movements of derivative contracts and spot pairs on the go.

Along with the new “Trade” section, the upgraded mobile app gives customers the ability to buy, sell, and convert crypto already included in the Lite version.

In the near future, the BitMEX Mobile app will see new additions including biometric login or the ability to stake BMEX from the app, the cryptocurrency exchange has announced.

Alexander Höptner, CEO of BitMEX, said, “Our new app significantly expands our mobile presence and makes the BitMEX trading experience more accessible than ever. We designed the app with our community in mind and pride ourselves on delivering the key BitMEX features they expect in a convenient mobile form.

BitMEX opened the spot exchange in May and hit $24 million in trading volumes ten days after launch. The company said there is significant demand from retail and institutional investors to trade spot cryptocurrencies, with growing interest from their existing customer base in the various coins they offer in the derivatives market.

At launch, BitMEX Spot Exchange supports seven cryptocurrency pairs, including Bitcoin (XBT), Ethereum (ETH), Chainlink (LINK), Uniswap (UNI), Polygon (MATIC), Axie Infinity (AXS) and ApeCoin (APE). All of these coins are being traded against Tether (USDT), and more pairs are expected to be listed shortly on the largest margined coin swap exchange.

Last month, a New York court sentenced BitMEX co-founder Benjamin Delo to 30 months probation, absolving him of jail time but costing him $10 million in regulatory fines. Upon passing sentence, Delo will return to his family and home in Hong Kong where he will serve his probation.

Patrick Smith, a defense attorney for Delo, said the BitMEX co-founder was involved in a “criminal compliance failure” but personally banned hundreds of US users.

In May, the co-founders of cryptocurrency exchange BitMEX – Arthur Hayes, Benjamin Delo and Samuel Reed – agreed to pay a combined $30 million fine for violating the anti-money laundering bank secrecy law. silver.

Former BitMEX COO Greg Dwyer has yet to resolve his own accusations. If no plea deal is reached, he is expected to go to trial later this year. The four defendants were additionally charged with conspiracy to violate the BSA, which also carries a potential maximum sentence of five years in prison.