BitMEX is releasing an XRP-U.S. dollar quanto swap targeted at crypto’s budding derivatives market.

A quanto swap is a cross-currency interest rate swap where one counterparty pays the other a foreign interest rate. When the contract expires, the notional amount gets settled in cash at a pre-defined exchange rate. These kind of swaps can be beneficial for speculators in search of liquidity and where they can post margin in their preferred currency.

The XRP/USD quanto product is set to go live on Feb. 5. The move coincides with the delisting of existing BitMEX UP and DOWN contracts. The last ones are expected to be settled by Jan. 31, with no new UP and DOWN contracts to be issued thereafter. The cryptocurrency exchange and derivatives trading platform said the affected contracts are XBT7D_U105 and XBT7D_D95.

BitMEX said in a release the contract details would be available on Testnet beginning Friday, with more information to follow.

A DOWN contract allows buyers of the contract to participate in the potential downside of the underlying instrument. An UP contract allows sellers of the contract to participate in the potential upside of the underlying instrument.