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Tether Perpetual Contracts Launched on Bybit, KuMEX
Tether, the blockchain-enabled platform that powers the largest stablecoin by market capitalization, is now available in futures contracts on Bybit, a cryptocurrency derivatives exchange, and KuMEX, the derivatives trading platform of IDG-backed cryptocurrency exchange KuCoin.
The launch of perpetual contracts on Bybit and KuMEX underlines USDt’s growing popularity as the most stable, liquid and trusted stablecoin. The USDt perpetual contracts will enable traders to hedge their positions by holding long and short positions simultaneously. This will provide traders with more flexibility in being able to manage their portfolios.
“I’m delighted to see that Tether USDt is once again the trusted choice of the growing derivatives industry,” said Paolo Ardoino, CTO at Tether. “Bitfinex, OKEx and other major exchanges have already launched derivatives products that use Tether USDt for collateral and settlements. We see more exchanges are following month after month.”
USDt’s total market capitalization has more than tripled from about $2 billion in February 2019 to reach $6.2 billion. Tether works with Algorand, Ethereum, EOS, Liquid Network, Omni and Tron. Tether is driven to support and empower growing ventures and innovation in the blockchain space.
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