Kucoin launch bitcoin futures contracts on its platform

Posted 17 October, 2019

Cryptocurrency exchange KuCoin’s derivatives platform, KuMEX, is going to launch bitcoin monthly futures contracts in a “few weeks.” The network released an official statement through the Twitter account of KuMEX. The information concerning the launch is still not unveiled publicly. Kucoin has also declared changes to its exchange center set to affect the market, display, orders, and order books. 

Michael Gan, the founder of KuCoin exchange, disclosed the upcoming debut of Bitcoin contracts on KuMEX in the recent Blockchain Life 2019 forum. An official announcement was further released via the Twitter account of KuMEX.  

Gan said that the current low penetration rate of derivatives in the cryptocurrency space is because major exchanges such as OKEx and Huobi often set certain investment thresholds. For instance, the two exchanges’ minimum bitcoin contract value is $100. However, to increase retail participation, the limit has to be reduced and that’s why KuMEX’s XBTUSDM contract value is $1.

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18 October, 2019 10:49

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