Bitcoin Futures Exchange Coinut Relaunches
Singaporean bitcoin futures and options exchange Coinut has announced its relaunch, with additional futures derivatives.
In March, the company shut down its liquidity and temporarily halted service in order to relaunch. Now, the company has resumed its services after two months. With its relaunch, the company now offers bitcoin spot and futures contracts, which are new to the exchange, and carries over previous derivatives in European vanilla options and binary options. According to the company, volume is still light and might scare some traders from fully participating on the exchange.
Coinut, led by founder and CEO Xinxi Wang, was first backed by BoostVC and Bitmain Technologies, started in 2013 with experts from computer science and finance. Its mission was to develop a secure and professional platform for people to trade bitcoin options and possibly other derivatives in the future.
The exchange’s website also includes some new branding and looks to be modeled after the Lithuania-based bitcoin futures and options exchange Deribit. It has launched a new insurance fund to protect against losses. An API support is also now available with both REST and WebSocket.
The company also added support for Litecoin and Ethereum Classic trading. The company said 50% of profits from LTC/BTC trading will be donated to the Litecoin Foundation. The exchange will also donate 10% of fees generated by ETC trading to the Ethereum Classic development team.
