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Asia is becoming a strong crypto hub for exchange derivatives

Image by zephylwer0 from Pixabay

Wed, 08 Apr 2020, 13:24 pm UTC

Asia has become the new home for crypto exchange derivatives.

According to Mihir Sharma of Cryptopolitan, 2019 has been a good year for the Bitcoin derivatives market. There has been a steady growth and overall increase in interest from the crypto space. Many have also started visualizing derivatives as a legitimate investment.

However, there are certain regulations in Europe and the United States that prompted derivatives exchanges to relocate its offices. The 5AMLD regulation has forced crypto derivative exchange Deribit out of Europe to Panama because the latter is more crypto-friendly.

Good thing, crypto exchange derivatives have found a new home in Asia. Countries like Singapore, India, and South Korea have massive potential for the crypto market. Joyce Yang, chief executive officer of Global Coin Research said that Asian countries have developed a good reputation in the crypto sphere.

Asian derivatives exchanges OKEx noticed that they are getting new retail traders sign-ups. FTX is also one of the leading firms in the industry after it lifted $8 million in a funding round recently.

There are a lot of crypto derivatives exchanges operating in Asia and they have shown promising growth patterns. For these reasons, Yang concluded that Asia will be one of the strongest blockchain and crypto hubs in the future.

Meanwhile, exchange Deribit announced in January that it would be moving to Panama ahead of the “very strict implementation” of new EU regulations that also apply to crypto companies in the Netherlands.

“If Deribit falls under these new regulations, this would mean that we have to demand an extensive amount of information from our current and future customers,” Deribit wrote.

“We believe that crypto markets should be freely available to most, and the new regulations would put too high barriers for the majority of traders, both – regulatory and cost-wise. Therefore, we have decided to operate the platform from Panama. The team and leadership will remain the same with John Jansen as the CEO.”

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