BitMex to Launch Bitcoin-Based Fixed Income Products in Weeks, Arthur Hayes Says

Arthur Hayes, CEO at BitMex, revealed that they are about to launch new Bitcoin-based fixed income products in a few weeks. He also shared his stance on the current performance of the leading cryptocurrency and why he thinks it’s a good investment call. 

Bitcoin-Based Fixed Income Products Coming to BitMex

Speaking on Bloomberg’s DayBreak: Asia from the sidelines of the Asia Blockchain Summit in Taipei, Arthur Hayes, CEO at popular Bitcoin margin trading exchange BitMex, revealed exciting information regarding the platform’s future developments. 

The executive explained that they’ve already managed to establish BitMex exchange as a leading provider of various cryptocurrency derivatives. 

Our most popular product is a derivative that we created, a perpetual swap. It’s essentially a leveraged derivative that doesn’t have any expiry date. This product trades about… $5 to $10 billion US Dollars per day notional. It’s the most liquid trading product for crypto. We also have other altcoin products where, say, Ethereum, EOS, TRON, all these different altcoins, we allow people to trade those on leverage as well. So, we have a full product suite of these derivatives. – Said Hayes

Now, having this broad range of cryptocurrency derivatives, Hayes explains that BitMex wants to diversify and venture into fixed income products. 

Something that we’re really keen on working on is fixed income. So, in the next few weeks, we will be revealing that we have the first Bitcoin Zero Coupon Bond with a few counterparties that we have identified, because we want to start a market where people can actually earn yield on their Bitcoin by investing and loaning Bitcoin to some of the most stable companies in the space. 

It’s important to understand that fixed income represents a type of investment security which pays the investor fixed interest payments until its maturity date. Perhaps one of the most popular types of it is government and corporate bonds. 

Hayes Thinks Retail Interest is Back in Bitcoin

Speaking of Bitcoin’s recent volatility, Hayes outlined that “this is sort of a high-water mark for a lot of investors.” 

Moreover, he touched on the fact that the trading volume actually increases during the weekends. This, according to the CEO, signals that the positive sentiment is back. 

I think it’s still a retail-lit phenomenon. The sentiment is back. There have been positive developments. You have the Facebook Libra, a stable coin that some people believe will bring a few billion people into this digital payments ecosystem. That’s very bullish.

He also outlined that it took people two years to clean out their balance sheets and that they are now back trading cryptocurrencies. 

In any case, it’s also worth noting that Bitcoin plunged in price, dropping below $10,000. At the time of this writing, however, BTC trades at around $10,210 marking a 7.5% decrease on the day. 


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