2022-8-13 20:50 |
Crypto derivatives platform Paradigm has partnered with crypto exchange FTX to roll out futures spreads trading.
The partnership, the two firms said in a press release, makes it possible for customers to access spread trading between various instruments, namely: spot, perpetuals and futures.
Notably, the available products will cover the top crypto assets Bitcoin (BTC) Ethereum (ETH), Litecoin (LTC), Solana (SOL), Avalanche (AVAX), ApeCoin (APE), Dogecoin (DOGE) and Chainlink (LINK).
FTX will offer “guaranteed atomic execution and clearing of both legs” the firms announced.
Benefits to usersCustomers of both Paradigm and FTX are set to enjoy several benefits as a result of the efficient spreads trading. These include seamless “cash and carry” trades via FTX tapping into both spot and futures instruments, cost-efficient rolling of expiring futures positions, lower fees (50% less on Paradigm) and delta-neutral deeper liquidity.
According to Anand Gomes, the Chief Executive Officer at Paradigm, the partnership with FTX expands on the two companies’ “long standing relationship,” and that their collaboration will benefit the broader crypto ecosystem.
Significantly, Gomes sees this attracting more yield traders, with potential demand from new crypto investors looking for “trade cash and carry as a single asset.”
Paradigm and FTX’s collaboration comes amid a broader improvement in market sentiment, with fresh growth expected across the industry as new money comes in. For the platform, the launch of the new product could pull in more derivatives traders from across decentralised finance (DeFi) and centralised finance (CeFi).
The post FTX and Paradigm partner to launch futures spread trading appeared first on Invezz.
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