Share this article
BitMex to Launch XRP Swaps, Delist 2 Other Derivatives
BitMEX is releasing an XRP-U.S. dollar quanto swap targeted at crypto’s budding derivatives market.
Updated Sep 13, 2021, 12:11 p.m. Published Jan 23, 2020, 4:29 p.m.
BitMEX is releasing an XRP-U.S. dollar quanto swap targeted at crypto’s budding derivatives market.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
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.
“We are also working on new products and features which will be rolled out gradually in the upcoming quarters,” BitMEX said.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
How Much Longer Until We Consider the Bitcoin Power Law Model Invalid?
As the gap between spot bitcoin price and the power law widens, investors are left questioning whether mean reversion is coming or if another cornerstone model is approaching its end.
What to know:
- Bitcoin has largely tracked its long standing power law trend this cycle, though it now trades about 32% below the model.
- Earlier models like stock to flow have already failed, with its current implied valuation near $1.3 million per bitcoin
Top Stories
