Delta Exchange, one of the fastest growing cryptocurrency derivatives exchange has launched world’s first stablecoin settled Bitcoin Futures. Stablecoin (USDC) futures will allow traders to margin in stablecoin and to earn profit / loss in stablecoin. These futures are available on Bitcoin, Ether and Ripple; all pairs are quoted in USD and settled in USDC.
All major crypto derivatives platforms, currently require users to put Bitcoin as margin currency for taking leveraged positions. This is problematic for traders as both, the margin kept for holding a position and the profit earned on a trade are exposed to volatility in prices of Bitcoin. Furthermore, almost all altcoin futures are quoted against Bitcoin. USD pairs are not available for leveraged trading on any major crypto derivative exchange.
Delta Exchange is attacking these problems with its new stablecoin settled futures. These futures are quoted against USD but are margined and settled in USDC, a leading stablecoin. The product is called quanto futures and it allows traders to put margin and earn profit and losses in USDC.
“Quanto derivatives which allow settlement in a third currency are rather common on Wall Street. With introduction of stablecoin settled quanto futures, we are not only attacking the biggest problem our customers face but also bringing sophistication to the crypto derivatives space”, said the company.
Stablecoins have been the talk of the town over the last few months. Many large players including Gemini, Goldman Sachs backed Circle (USDC) have entered the arena; underscoring the demand for a cryptocurrency that provides a safe haven to investors in times of high volatility. Moreover, since stablecoins are pegged to major fiat currencies and don’t fluctuate in value they are ideal for a cryptocurrency trading pair.
Crypto derivatives space, which is still very new, has been missing this. As crypto derivatives became common place it was only a matter of time before traders start to look for stablecoin settled pairs on crypto futures. Delta Exchange has taken lead in this area and is looking to capitalise on the opportunity. In order to incentivize customers to try its new offering the exchange is also offering a deposit bonus to new users. The company is offering trading credit to its customers for them to try out its products.
Introduction of USDT was game changing for cryptocurrency markets. It acted as a catalyst which made crypto spot trading explode. Binance, the largest crypto spot exchange, clocks its highest volume in the Bitcoin pair traded against USDT. Delta Exchange expects to see a similar boom in crypto derivative trading with introduction of its USDC settled futures.
The company believes that Stablecoin futures will make derivatives trading in crypto-verse akin to trading derivatives on traditional exchanges such as CME, LSE, HKSE etc. It will help cut the learning curve that users currently need to go through in order to trade crypto derivatives and thus help in expanding the market.
With introduction of stablecoin settled quanto futures Delta exchange has definitely broken new ground in the crypto derivatives space. Stablecoin futures are live on Delta Exchange and available for trading.
Delta Exchange was started in August 2018 and has seen strong growth in a short period of time. The founding team comprises of ex-traders from bulge bracket banks such as UBS & Citibank and successful tech entrepreneurs. Advisors to the team include Prof. Bhagwan Chowdhry, who is also an advisor to the Stellar Foundation and Mr. Stani Kulechov, CEO of ETHLend, the market leader in cryptocurrency based lending.
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