Crypto Exchange Crosstower Launches Perpetual Futures Trading

New Delhi: Crypto and digital asset exchange Crosstower Inc. has announced the launch of perpetual futures trading available on its Bermuda digital exchange.

Perpetual futures are derivative contracts that, unlike traditional futures contracts, are not limited to a predetermined expiration date.

According to the company, the product provides Crosstower’s growing customer base the opportunity to take long and/or short positions tailored to their portfolio and risk objectives.

Perpetual futures trading is offered to qualified clients on institutional grade and regulated platforms, available through the Crosstower Global Pro Platform. In the coming weeks, Crosstower intends to launch perpetual futures trading in 20 top name tokens.

Kapil Rathi, Co-Founder and CEO, Crosstower, said, “Perpetual futures provide investors with important tools that can facilitate and shape their investment objectives. The benefits of perpetual futures trading are truly compelling for portfolio building and we believe in digital Thrilled to contribute to the maturity of the asset ecosystem.”

The crypto futures market has seen huge growth in the past few years due to both retail and institutional demand.

Bitcoin Perpetual Futures, which is seen as a barometer for demand for crypto derivatives, hit a record open interest in 2021, with volumes averaging nearly $62 billion per day globally over the past year.

According to Coinglass, in March 2022, open interest in bitcoin and ether perpetual futures stood at $18 billion and $8 billion, respectively.

“By expanding its suite of existing market-leading products in addition to an ongoing futures trading capability, Crosstower is breaking down barriers for investors of all types, allowing them to gain substantial exposure to crypto assets through a single institution-grade, reliable platform backed by advanced technology,” the company said in a release.

Crosstower posted record trading volume in the fourth quarter of 2021, with volumes growing by more than 600% year-on-year and more than 100% sequentially.

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