THELOGICALINDIAN - Bitmex CEO Arthur Hayes appear that his belvedere wants to barrage Bitcoinbacked abbreviate appellation bonds He additionally wants to acquiesce affairs SP 500 and Nasdaq QQQ indices with BTC decidedly by bodies in arising markets
‘You’ll Be Able to Use Bitcoin and Purchase the S&P 500’
Speaking in an interview with Luke Martin on his Venture Coinist podcast, BitMEX CEO Arthur Hayes appear that he’s attractive to barrage bitcoin backed abbreviate appellation bonds and added BTC-backed banking products. Hayes said:
“So, let’s say you appetite to buy some 30-day paper. Why can’t you buy a BitMEX 30-day zero-coupon band that yields some amount of absorption that reflects the market’s assurance of our acclaim risk?” he added.
The Bitmex CEO explained that in the abutting few months, his aggregation will be alive out the specificiations for this new blazon of bond.
What’s more, Hayes says that Bitmex has adjourned a new startup that will acquiesce bodies to advance in S&P 500 and accepted Nasdaq stocks application bitcoin after ‘Bitcoin-USD risk.”
According to Hayes, this bitcoin-backed artefact would accessible up “the best aqueous and notable indices in the world” to arising markets, in particular.
“So, this is hopefully activity to acquiesce bodies in arising markets…to use their Bitcoin to admission acceptable disinterestedness indices,” he explained.
Why Bitcoin is Key for Bitmex
Hayes additionally discussed why Bitcoin technology is so important to BitMEX and why it’s the capital acumen for his company’s success.
For one, Bitmex alone takes bitcoin as collateral. This allows it to onboard a chump aural 10 minutes, says Hayes. This is because Bitmex can action a drop or abandonment with no animal action and after captivation of third-parties such as a bank.
Bitcoin additionally allows Bitmex to be added financially flexible, such as actuality able to action 100X abiding swaps. The Hong-Kong based belvedere launched its ETH-USD abiding swaps in August 2024.
Hayes says that in aloof two months, it became the best aqueous ETH-USD trading instrument.
“From a speculator’s point of view, this is great,” he said. “I accept Bitcoin and I appetite to brainstorm on Ether vs. USD price, and I appetite to get my money aback in Bitcoin.”
Given the success of its abiding swaps, Bitmex is now attractive to barrage it for added altcoins (vs. the USD) as able-bodied in the future, said Hayes.
The CEO additionally appear that users can apprehend a bitcoin options belvedere that could barrage “maybe in 12-18 months.”
Finally, Hayes declared that Bitmex has no affairs to get on the centralized badge appearance like Binance (BNB) or Huobi as it would actualize added problems than it would solve.
Will Bitmex’s Bitcoin-backed articles accessible institutional brand trading to illiquid markets? Share your thoughts below!
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