Bithumb Launches Global Trading Services With Multiple Fiat Support

By Prashant Jha

Bithumb the South Korean exchange which has recently raised $200 million in a bid for global expansion has launched its beta version for the global asset trading platforms. The beta version of the service has been launched in 15 countries including the UK, Canada, Australia, and Japan.

The newly launched exchange will be looked after by the Bithumb global which also foresees various other platforms of the company like Bithumb DEX, a decentralized crypto exchange and over the counter (OTC) desk created for the institutional clients.

The beta version of the global asset trading exchange would allow the selected users to trade perpetual futures contracts with test money, in order to reduce risks and make the consumers more aware of the future contract market, and also help them gain some trading experience.

What are Perpetual Future Contracts?

Perpetual future contracts are quite similar to general future contracts, the only difference lies in terms of the daily settlement, and there is no expiry date for the contracts. These perpetual contracts allow traders to withdraw their profit on a daily basis. n addition, these instruments on the exchange come with a leverage level of 1:100.

One of the executives at the exchange explained the services that the new global platform has to offer and how the focus is on technology-driven financial services. He said,

“We are expanding into U.K., Canada, Australia, Japan, Hong Kong, and 10 additional jurisdictions. Our service will include cryptocurrency exchanges, security token offerings, blockchain based project incubation, and ultimately culminating into a technology-driven techfin, financial service institution.”

As a promotional offer, the exchange is offering $90 worth of BUSD to all customers who are completing their KYC on the platform. With the launch of the global trading platform, Bithumb is planning to expand its service base beyond South Korea.

Bithumb already boasts of being the largest crypto exchange in dealing in millions of worth of trading volumes on a daily basis. The global expansion was on the cards, as the exchange raised around $200 million for the same last month.