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Binance Acquires Cryptoasset Trading Platform JEX
Traders Magazine Online News, September 10, 2019
Binance, a cryptocurrency exchange, announced the acquisition of JEX, a crypto-asset trading platform offering spot and derivatives trading services. JEX will join the Binance ecosystem as Binance JEX and focus on further building the cryptoasset derivatives market, providing Binance users with professional services including futures contracts, options and other derivative products.
“JEX has a seasoned developer team with proven experience in cryptoasset product development. JEX has developed solid derivatives product offerings including perpetual contracts and options, which are aligned with Binance’s product roadmaps in the cryptoasset derivatives market,” said Yi He, Binance Co-founder. “We hold an open mind and welcome more partners to join the Binance ecosystem. We look forward to delivering more innovative derivative products in the future as Binance JEX.”
Through this acquisition, Binance will manage the JEX team and the JEX tokens run by its Foundation, introducing more utility to the JEX token. In a longer term, JEX tokens will be gradually distributed to all users via marketing activities and community incentives; subsequently, the tokens will be gradually retrieved and burned in various forms including trading commission deductions and so on.
About JEX Exchange
JEX Exchange, the first crypto-asset trading platform that initiated cryptoasset options trading in the world, is run by JEX Technology Co., Ltd. JEX Exchange is an efficient cryptoasset perpetual contracts and options trading platform, which is devoted to the innovation and development of cryptoasset derivative trading products.
About Binance
Binance is a blockchain ecosystem comprised of several arms to serve the greater mission of blockchain advancement and the freedom of money. Binance Exchange is the leading global cryptocurrency exchange by trading volume, with users from over 180 countries and regions. The Binance ecosystem is also comprised of Binance Labs (venture capital arm and incubator), Binance DEX (decentralized exchange feature developed on top of its native blockchain and community-developed software system, Binance Chain), Binance Launchpad (token sale platform), Binance Academy (educational portal), Binance Research (market analysis), Binance Charity Foundation (blockchain-powered donation platform and non-profit for aiding in sustainability) and Trust Wallet (its official multi-coin wallet and dApps browser). For more information, visit: https://www.binance.com
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