Arthur Hayes talks about upcoming interest earning product for BitMEX, reveals other products in pipeline

The CEO and founder of BitMEX, Arthur Hayes, spoke on a Venture Coinist podcast and revealed future Bitcoin products that would allow users to earn interest by holding it, and the other plans of BitMEX.

Speaking about the product that will let users earn interest by lending their Bitcoin, Hayes stated that he was exploring, on a small-scale level, about making it work for Bitcoin. He stated:

“I want to create a future where the highest quality exchange and miners issue short term Bitcoin bonds to the ecosystem.”

He said that this would create a “credit curve” for Bitcoin and people could start natively borrowing it and create businesses using Bitcoin without having an outside currency exposure. He also added that this would create a “ubiquitousness of the use of Bitcoin and other cryptocurrencies” and that it would propel the crypto-space as a whole to a new level.

Hayes continued that he would work on it and hoped that he could come up with a test transaction to gauge the interest of the audience for the fixed income market. He said:

“And from a selfish perspective of BitMEX, the fixed income markets are much larger than the FX markets… so if we can start to trade interest rate derivatives on our native crypto credit curve, which is comprised of the best quality companies in the space and that’s really going to take our platform to the next level and help us achieve our goal of becoming the largest exchange”

Speaking about the next upcoming product, Hayes gave his insights into the ability to buy Nasdaq Indices with Bitcoin. Hayes added:

“We have funded a start-up in their seed around who I’m not gonna give out the name yet because I want to put undue pressure on them to deliver but hopefully, by summer of this year you will be able to use Bitcoin and purchase the S&P 500 and Nasdaq’s indices using Bitcoin.”

With the new feature, users can buy a swap for the available Nasdaq’s indices using Bitcoin and can sell their swaps to receive Bitcoin. Hayes said that he hopes to merge the crypto and the traditional markets. He also confirmed that this would be a side product and that it would be accessible through BitMEX.

The post Arthur Hayes talks about upcoming interest earning product for BitMEX, reveals other products in pipeline appeared first on AMBCrypto.

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