Cryptocurrency exchange BitMEX has launched trading in FX contracts – perpetual currency contracts with up to 50x leverage. This was reported on the official blog of the platform.

Currency contracts are traded around the clock. Over the weekend, the contract price fluctuates around the market closing prices on Friday.

Users can open long and short positions in 22 currency pairs: EURUSD, EURCHF, EURTRY, USDCHF and others.

The exchange uses bitcoin (XBT) or Tether (USDT ERC-20) as margin. Open position holders pay a funding rate.

BitMEX offers three types of currency swap contracts:

• quantum contract: the currency pair is represented by two assets, for example the dollar and the Indian rupee (USDINR), and the collateral and payments are provided in the third asset – bitcoin (XBT);
• reverse contract: Margin and yield are calculated in the base currency, not the quoted currency. For example, in USDTMXN, margin is calculated in USDT, not MXN;
• line contract: Collateral and payouts are calculated in the stablecoin Tether (USDT).

BitMEX is a platform for staking and passive income trading as well as cryptocurrencies and derivatives, one of the top 10 derivatives trading platforms on CoinMarketCap.

Recall that BitMEX previously announced the launch of its own BMEX token and airdrop.

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