World Crypto Global
- Written by: Damian Chmiel
- Mon, 20 May 2024
- Israel
On its sixth anniversary and surpassing the milestone of 10 millioncustomers, the cryptocurrency exchange BingX presented its strategicdevelopment strategy titled "ExpansionX," under which it plans toimplement a range of new products and expand its operations to additionalcountries.BingX Introduces NewProducts for Spot and Derivatives TradingAs part ofExpansionX, the exchange intends to introduce USDC-margined futures trading andexpand the number of assets available for leveraged investing. In the spot market, the offering will be complemented by Launchpad and Launchpool,which allow participation in the sale of new cryptocurrency projects andtokens."Togetherwith our BingX community and partners, we will continue to push the boundariesof what's possible in the crypto industry, setting new milestones and drivingpositive change," Vivien Lin, the Chief Product Officer of BingX,commented. "Thanks for being part of our journey, and we are ready toachieve new heights together in 2024 and beyond."We're turning 6! What a journey it has been. Through bull and bear markets, thank you #BingX fam for sticking by us through it all. Here's to many more years of innovative and user-first products ahead. pic.twitter.com/lGAmFCMJPC BingX (@BingXOfficial) May 20, 2024Theoffering will be complemented by lending services within wealth management, which will allow users to pledge cryptocurrencies in exchange for collateralized loans."Theplatform will also expand its structured product offerings to include dualcurrency notes, accumulators, decumulators, and snowball products, providingdiverse investment options," the company wrote in the official statement.New Countries and NewPartnershipsIn additionto product development, BingX also focuses on geographical expansion. Theexchange has begun entering new markets, including Turkey, Vietnam, andArgentina, expanding its reach across several continents simultaneously."BingXprioritizes localization by identifying and developing products and campaignsspecifically tailored for local markets, supported by a dedicated team withlocal expertise," the company commented.An example is the partnership established at the beginning of this year with theChelsea Football Club, of which BingX became a sleeve sponsor. In addition, theexchange's logo will be featured on the front of the club's training kit.Hugest of massive thank yous to @BingXOfficial for my birthday present and making this all possible So excited for my very first football match #cfcmatchday Go Chelsea! pic.twitter.com/CbGpCZBADd Lisa N Edwards (@LisaNEdwards) May 19, 2024As part ofits development strategy, the exchange also wants to become more involved incorporate social responsibility (CSR) projects. In this regard, it is preparingto produce a documentary with Netflix and Dolphin Conservation to raiseawareness about the need for animal protection.Development plans emerge when the cryptocurrency exchange industry is experiencing multi-year highs, following Bitcoin's new record in March. Although April saw a correction in spot volumes of the largest exchanges, historically, they remain at high levels.This article was written by Damian Chmiel at www.financemagnates.com.
