ROAD TOWN, British Virgin Islands, March 30, 2020, 9:00 AM UTC — 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.
Tether is the preeminent stablecoin with the biggest market capitalization, surpassing that of all rival offerings combined. Created in October 2014, Tether has grown to become the most traded cryptocurrency. Tether is disrupting the legacy financial system by offering a more modern approach to money. By introducing fiat currency-digital cash to the bitcoin, Ethereum, EOS, Liquid Network, Omni, Tron and Algorand blockchains, Tether makes a significant contribution to a more connected ecosystem. Tether combines digital currency benefits, such as instant global transactions, with traditional currency benefits, such as price stability. With a commitment to transparency and compliance, Tether is a secure, fast and low-cost way to transact with money.
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