Diversification: Bitfinex to Offer Commodity Contracts

Bitfinex Derivatives has announced a range of perpetual contracts for some global commodity indices.

Bitfinex noted that the contracts are only available for certain accounts in certain jurisdictions.

The platform said the commodity contracts will allow Bitfinex Derivatives customers to trade products usually available on traditional financial exchanges, but subject to restricted trading hours. These contracts will be available to trade 24 hours a day, seven days a week.

Currently available now are contracts for UK Crude Oil (UKOILF0:USTF0), Palladium (XPDF0:USTF0), and Platinum (XPTF0:USTF0).

Bitfinex noted that the commodities join other perpetual trading portfolios including Silver perpetuals (XAG-Perp), Tether Gold perpetuals (XAUT-Perp) and FX perpetuals on Euro, Yen, and Sterling (EUR-Perp, JPY-Perp, and GBP-Perp).

Traders may receive up to 100x leverage with settlement in Tether (USDt).

Paolo Ardoino, CTO at Bitfinex Derivative, said they anticipate great interest in the products, “particularly among funds and professional investors seeking to take directional positions or to hedge risk.”

Bitfinex Derivatives platform and products are only available in eligible jurisdictions and are exclusive to verified users. US individuals are not allowed.

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