BitMEX to launch exchange token

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Updated October 5, 2022 | Published October 5, 2022

2 mins read

The company aims to introduce its token by January, although the launch will be halted if the crypto market experiences volatility.

Cryptocurrency exchange and derivative trading platform BitMEX is set to launch its exchange token BMEX.

During the Token2049 conference in Singapore, BitMEX CEO Alexander Hoeptner divulged the company’s hopes to launch BMEX by the end of the year.

“If you launch a token in a market which clearly is not at all at the bottom, then your token will be drained down with the general environment”, he said.

Holders of the token will be granted various perks and discounts on trading fees, not dissimilar to other exchange tokens BNB and FTT.

The token launch was announced as delayed earlier this year due to the uncertain conditions of the marketplace.

An announcement in July read: “Although we are ready to list BMEX, the present market conditions are not ideal, and we want to list the token in an environment that gives it the best chance to reward you, its holders.”

Hoeptner said he wants to avoid launching during a “tremendous dip” for fear the new product would suffer from focus on its declining price amid an unfortunate downturn rather than its innovative features.

“People waited for so long. They can wait for another month or two”, Hoeptner said.

Looking for your next crypto casino? Check out: Bitcasino, Gamb.co or FortuneJack.

Written by Isabella Aslam

Reporter

Isabella is an experienced writer in B2B and B2C journalism. Alongside crypto, Isabella writes and discusses the topics of relationships and psychology. Isabella holds a first-class degree in music journalism and often interviews electronic artists and DJs.
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