Binance, the top exchange with the largest trading volume in the world, has announced the acquisition of crypto exchange JEX in a bid to boost its crypto derivatives offerings for pro traders.
JEX is a crypto derivatives exchange which is known for its leverage trading, offering up to 100x leverage and competes alongside rival bitcoin futures exchange Deribit and BitMEX. According to Binance, “JEX will join the Binance ecosystem as Binance JEX and focus on further building the cryptoasset derivatives market, providing Binance users with professional services including futures contracts, options and other derivative products. ”
Binance has just stepped into the derivative market yet faces competition from the veteran as well as new market players. However, given Binance’s huge userbase and extensive history, it is unlikely that the exchange will struggle. Due to its large userbase, it is easy for Binance to develop initial liquidity.