BitMEX to list its BMEX token on Friday

Representatives of the BitMEX crypto exchange announced the launch of its own BMEX token this Friday. The cryptocurrency will be used to reward customers, thus BitMEX hopes to regain market share in the derivatives sector. As it became known, BMEX tokens will be offered to customers as a discount on trading fees. BMEX will also exempt users from withdrawal fees, increase staking fees, and provide access to new products and services of the exchange. BitMEX first announced the launch of its own token back in December last year. According to the exchange, since February 2022, BitMEX has distributed several million BMEX to more than 80,000 traders. Earlier, the token listing was scheduled for June, but due to the crisis in the market, the launch was postponed to November 11, explained Benjamin Ussinger, Chief Marketing Officer of BitMEX. The company hopes that the BMEX launch will «contribute to the growth of the exchange’s liquidity and revitalize the cryptocurrency market.» On Friday, BitMEX will list the BMEX/USDT pair on its spot exchange and launch two new perpetual swaps, BMEXUSDT and BMEXUSD. In July, it became known that BitMEX banned crypto transactions for Russian citizens using the platform’s services while in Europe. Also in October, the exchange supported the sixth package of EU sanctions, completely suspending services for all citizens of the terrorist country.