The popular Bitcoin margin trading exchange BitMEX is launching a new program tailored towards its corporate customers. Called BitMEX Corporate, it will provide them with enhanced legal, auditory, and client relationship benefits.
BitMEX Flatters Its Corporate Customers
In the announcement from earlier this week, BitMEX describes the corporate accounts on its platform as “the part of our customer base where the account owner is not an individual, but a company or other legal entity.” As such, they require different ownership structures, additional security demands, and ways for employees to access and manage the accounts on behalf of the owners.
Hence, the veteran Bitcoin margin trading exchange has come up with several benefits to facilitate their experience. Firstly, the company outlines a specific corporate legal structure as enhancing such accounts “is the legal property of your corporate entity, not an employee or individual.”
The next feature is a dedicated client coverage relationship manager and full access to global corporate events. BitMEX will also provide additional options for defining account access, control via authorized signatories, and account management.
The company also says that high-volume corporate accounts will be able to take advantage of the tiered account schemes’ benefits. Those include new product incentive schemes, market maker programs, increased rate limit thresholds linked to trading behavior, and weighing in on the developments of new products and features.
BitMEX also plans to introduce additional merits for such accounts in the future:
“BitMEX Corporate customers will be invited to be part of our Early Access programs for ongoing product and service enhancements, with Sub-Account and Inter-Account Instant Transfers features and Multi-User Login capabilities due to be launched later in 2020.” – reads the statement.
BitMEX Lists Bitcoin Cash And Ripple Shitcoins
As CryptoPotato reported recently, the popular exchange launched a BCH/USD perpetual swap contract with up to 25x leverage. It has a maker fee of -0.025% and a taker fee of 0.075%, requiring an initial base margin of 4% and a maintenance margin of 2%.
While the addition of a new contract should be the main news, BitMEX CEO Arthur Hayes took the main stage with another witty remark. While commenting on the announcement on Twitter, he said, “BCH/USD perp is now live. Which shitcoin should BitMEXdotcom list next?”
Earlier this year, BitMEX introduced Ripple (XRP) to its platform, and at the time, Hayes made another provocative comment – “Is it called Ripple, XRP, or dogshit? Who knows, who cares. It’s worth more than zero, so it’s time to trade the USD pair of BitMEX. Boo-Yaka-sha!”
BitMEX Parent Company Leads Series A Funding For Options Trading Platform
The options trading platform Sparrow announced earlier that it had secured $3.5 million in Series A funding. HDR Group, which is the company that owns and operates BitMEX, led the round. Signum Capital, Du Capital, and FinLab EOS VC also supported the series.
Hayes noted that the HDR Group is “excited by Sparrow’s growth potential, the team behind it, and therefore proud to be leading this Series A round.”
Sparrow CEO Kenneth Yeo said that his company had seen a triple-folded increase of trading volume since the start of the year. He added that the funds from the series will be primarily utilized for platform development and bringing “even more exciting trading products to the market.”