Cryptocurrency exchange OKEx plans to launch Tether (USDT) futures margin trading in October, the firm confirmed in an email to Cointelegraph on Sept. 23.
An OKEx spokesperson said that Tether futures are scheduled to be launched next month, though the exact launch date has not been set as of yet. They explained:
“We are planning to launch USDT margin futures. But at this stage, we are aiming to launch in October and still pending on the exact launch schedule.”
As Cointelegraph reported earlier today, OKEx has refuted fresh allegations of manipulative practices such as wash trading on its platform.
Crypto futures products see rising demand
In August, another major exchange Binance announced that the platform will launch futures trading this month.
Since then it has been reported earlier this month that the daily trading volume on Binance’s futures markets has exceeded $150 million, though the platform is still in invite-only mode.
Lastly, the Chicago Mercantile Exchange Group is adding options to its Bitcoin (BTC) futures contracts in the first quarter of 2020, pending regulatory review. Tim McCourt, the firm’s Head of Equity Index and Alternative Investment Products cited increasing client demand and robust growth in the Bitcoin futures market as the reasons.