Bitfex, the digital asset derivatives exchange going live in Q4 2019, today concluded the second and final round of its utility token, BFX. By conducting the IEO on the Korean exchange ProBit, Bitfex was looking to expand its awareness in Korea and elsewhere in the region.
Korea occupies an important position in the global cryptocurrency market and this IEO has greatly increased Bitfex’s exposure in the Korean crypto space. There is a sophisticated community of derivatives traders in the Korean market, who were very welcoming of the derivatives platform and many Korean traders have now been on-boarded onto the Bitfex exchange.
Our entry into the Korean crypto market is the first in a series of steps to expand Bitfex’s global footprint and our community of traders who are already trading on our TestNet will be ready to begin live trading as soon as the Bitfex exchange launches.
The listing of BFX on ProBit has been fixed for 30th September 2019. Initially, two pairs, BFX/BTC and BFX/KRW will be available. Offering a Korean Won (KRW) pair was an important objective, so as to provide an on-ramp for local traders. Bitfex plans to expand to more markets and the company is in discussions with other local exchanges to allow traders to acquire BFX using additional fiat currencies. By becoming a BFX holder, traders can participate in derivatives trading on the Bitfex exchange while enjoying various benefits such as discounted fees and even zero-fee trading.
Bitfex (powered by idap.io) is the first complete crypto derivatives ecosystem, introducing users to low-risk trading instruments such as crypto spreads and butterflies, along with a highly advanced desktop trading platform which incorporates a revolutionary point-and-click ladder trading interface. Through its institutional-grade infrastructure, diverse product line and trader-friendly platform features, the Bitfex ecosystem will attract traders and investors of all kinds to its exchange.