The cryptocurrency exchange OKEx is prepping to launch Tether margin futures next month. However, the firm did not announce a precise date for the launch.

The spokesperson of the company did not reveal any further information about the details of the tether margin futures. However, he said the company will inform the updates and keep people informed about the features of the latest service. Margin futures contracts are a type of derivative product. They allow traders to use an asset as leverage for trading. In the case of OKEx, the traders will use USDT for delivery at a later date.

Many cryptocurrency exchanges are rushing into the crypto derivatives space. Recently, Bakkt has launched its physically settled Bitcoin futures trading. The service is live for trading on the Intercontinental Exchange(ICE). It is first of its kind to receive a green signal from the United States regulators. Most recently, Binance has launched a futures trading platform. It is called as Binance Futures. The platform is initially supporting BTC/USDT futures with up to 20x leverage.

Meanwhile, OKEx South Korea has taken a surprising move by ending support for five privacy coins from its platform. They are Monero (XMR), ZCash (ZEC), Dash (DASH), Horizen (ZEN), and Super Bitcoin (SBTC) as per the source.