(Rejected) Derivatives Trading Platform Thalex Grants €7.5m in Series A Financing

Cryptocurrency derivatives trading platform Thalex has received 7.5 million euros in Series A financing from well-known cryptocurrency exchanges Bitfinex, Bitstamp, etc.

Strategic investors also include Flow Traders, IMC, QCP Capital, and Wintermute. The funds raised will facilitate trading in stablecoin-settled crypto options and futures.

Through this financing, Bitfinex and Bitstamp users can use the exchange’s platform to directly access Thalex’s crypto options and futures trading.

Jean-Baptiste Graftieaux, CEO of Bitstamp, said: “Thalex's unique value proposition will enable Bitstamp to streamline our go-to-market for derivatives and participate in the fast-growing crypto derivatives market. This investment marks the beginning of a close strategic partnership and plays an important role in Bitstamp's corporate strategy.”

Thalex is a crypto-native derivatives trading platform with a focus on options and futures. Clients can open a Thalex margin account with collateral held by its partner platforms, including BTC, ETH, USDT, and USDC and conduct real-time position trading.

By deploying multilateral options and futures strategies of any size for a transaction fee of 1 basis point. Due to the high risk of derivatives, there will be margins required to maintain delta and vega offset positions

Bitfinex is one of the major cryptocurrency exchanges founded in 2012. In October 2019, the New York-based legal firm alleged that Bitfinex and Tether had been involved in manipulating markets and concealing illicit proceeds.

Paolo Ardoino, CTO of Bitfinex, said that the futures and options markets settled in stablecoins have unlimited potential in the future.

Bitfinex still expands its global business, Blockchain. News reported on September 8, that Bitfinex is launching a new security token offering (STO) platform regulated by Kazakhstan.

Bitstamp had announced that as of August 1, it will start charging a monthly 10 euro fee to users with an inactive account to make up for costs. However, the exchange changed their mind within a day.