Thecryptoderivativesexchange,Bitnomial,announcedthatithasraised$25millioninafundingroundledbyRippleLabs,asitintroducedaperpetualfuturestradingplatform-‘Botanical’intheUS.
Accordingtotheofficialstatement,Botanicalislaunchedinaclosedbetaphase,andwillofferservicesincludingtradingperpetualfutures,traditionalfuturesandoptions.
BitnomialCEOLukeHoerstenstated,“WearetakingaboldstepforwardinourmissiontoprovidearegulatedandinnovativetradingexperiencebylaunchingBotanical,whichwillprovideanalternativetoDEXesandVPN-basedworkaroundscommoninperpetualtradingtoday.”
Meanwhile,RippleCEOBradGarlinghouseclaimed,“Bitnomial’sapproachtobringingoffshoretradingmodelsintotheU.S.derivativesindustrypresentsasignificantmarketopportunityastheyestablishacompliantderivativesmarketfordigitalassets,suchasXRP.”
Withthelaunchofitsfuturesplatform,BitnomialaimstoleverageRipple’sRLUSDstablecoinforthesettlementoftheperpetualfutures.
TheannouncementoftheinvestmentfundingcomesattheheelsofBitnomial’sfilinglastweekofalawsuitagainsttheU.S.SecuritiesandExchangeCommission.Initsfiling,BitnomialaccusedtheSECoverRipple’sXRPFuturesandchallengedtheregulator’sclaimsthat‘XRPisasecurity’.
cryptonewsz.com