Altcoin News: KuCoin Will Launch Bitcoin Monthly Contracts

October 16, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The KuCoin cryptocurrency exchange intends to launch Bitcoin Monthly Contracts with monthly settlements on its derivatives platform KuMEX within a few weeks. This was announced by KuCoin CEO Michael Gan at a conference in Moscow.

KuMEX was launched this summer. Currently, the platform supports perpetual contracts for Bitcoin XBTUSDM, calculated against the US dollar and allowing trading with leverage up to x20.

Gan is confident that the small distribution of cryptocurrency derivatives is due to the fact that exchanges often set too high requirements for their customers, for example, on the minimum contract size. KuCoin, in turn, uses the minimum contract value for XBTUSDM of $1.

KuCoin previously announced a change in the exchange interface but was faced with a negative reaction from users, in connection with which they were given the opportunity to return to the previous version.

In mid-September, KuCoin announced the launch of a dedicated digital asset staking platform.

Author: Marko Vidrih