FairX (Fair Exchange)

FairX works with industry partners to develop futures products that meet the requirements of active retail investors.

History

2022: Purchase of Coinbase crypto exchanges

The largest USA cryptoexchange Coinbase in January 13, 2022 announced the purchase of the futures platform FairX. The press release emphasizes that the FairX functions in accordance with the regulations established by the to trade Commodity Futures Commission. USA

Coinbase crypto exchange acquires derivatives FairX
Photo: s.hdnux.com

"As the crypto becomes an increasingly mature type of financial asset and the most advanced investors around the world plunge into cryptoeconomics, a healthy, regulated market for derivatives transactions becomes a critical condition for long-term success," Coinbase said.

Through the acquisition of FairX, Coinbase plans to market regulated cryptoderivatives; initially, only FairX 's own partner ecosystem will be used for this, later this type of financial instruments will be offered to all Coinbase customers in the United States.

"We want to make the derivatives market more accessible to millions of our customers, providing them with the same ease of interaction that Coinbase is famous for," the press release said.

The company claims that the expertise of FairX in areas such as product development, market structure and compliance with official standards will allow Coinbase to create "a more honest, affordable, efficient and transparent financial system based on cryptotechnologies."

Obviously, we are talking about the convergence of the cryptocurrency and traditional economy, in which futures markets play a significant role, "says Dmitry Gvozdev, general director of Information Technologies of the Future. - As the cryptocurrency sphere grows older, it becomes increasingly clear that it is accepted as an equal financial instrument with others, and it is obvious that large cryptobirds are interested in becoming an integral part of the global economy. And given that the government of El Salvador, for example, has already recognized Bitcoin as an official means of payment, the equality of fiat and electronic means of payment looks quite a real prospect, up to the appearance of combined fiat-cryptocurrency derivatives. In turn, the rigid division of sites into traditional and cryptocurrency has a significant chance of becoming a thing of the past.

The terms of the transaction were not disclosed; it is only known that it will be finally closed in the first financial quarter. Until its end, the work of the FairX will not undergo any changes.^[1]

Notes