May 13, 2021

BitMEX plans to add five new business segments

BitMEX plans to add five new business segments

The Seychelles-listed exchange said it will expand its line of trading offerings.

Several exchange executives - Arthur Hayes, Ben Delo and Samuel Reed - have faced several serious legal charges in the past. They left their senior positions at BitMEX and surrendered to the authorities.

Led by a new CEOAlexander Heptner's company is trying to create a new image. BitMEX said it will add 5 new business segments - spot, broker, storage service, info products and academy.

BitMEX plans to add five new business segments

Heptner has not yet named a specific timeline for the introduction of new instruments, but notes that the main goal of BitMEX is to become "the largest regulated crypto derivatives exchange."

The expanded exchange team plans to implementfull-featured spot trading, expand the derivatives business, launch options, implement a regulated proprietary custody solution, and create BitMEX academies.

To implement its strategy, the management of the exchange is considering the possibility of an IPO.

The BitMEX plan can help breathe new life intoher once dominant business. Despite Bitcoin's bull run, BitMEX's market share has dropped significantly and the exchange is making relatively little revenue.

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