Crypto exchange BitMEX has launched options trading in partnership with PowerTrade, a cryptocurrency options platform backed by Ascend Ventures, Pantera Capital and Ledger Prime.
Its well-known perpetual swaps with 100x leverage, which recently increased to 250x before the Bitcoin halving, have made BitMEX one of the major players in the market.
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The company's CEO Stephan Lutz is targeting a trading volume of at least $500 million within three months for the new options product.
BitMEX plans to offer options trading in all regions where it is currently available.
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Deribit currently holds the majority market share in Bitcoin options trading, with 70% ($35.7 billion) of the $51.1 billion in volume traded in April.