BitMEX crypto derivatives platform has said that it wants to launch corporate products targeting the corporate customers at the exchange. The Hong Kong-based crypto derivatives giant said that this new program will benefit the corporate clients including enhanced security service and accounting.
Based on the exchange’s June 22 announcement on its support page, BitMEX is unveiling the program that it refers to as BitMEX Corporate. All the accounts on this crypto exchange that are not owned or operate by individuals can now make sure that their BitMEX funds are the legal property of a corporation.
BitMEX confirmed that the new features were created for the clients that need different ownership structures for their accounts. Such clients may want their employees to access and manage accounts, and security needs. Nonetheless, the announcement also said that options; like multi-user login together with instant transfers between accounts will become available later this year.
Still Affected By Controversy
Although BitMEX remains one of the biggest derivatives exchanges globally; most members of the crypto community say that they are losing their confidence in the platform. Previous reports in March indicate that when the exchange went offline for about 25 minutes amidst the crypto blood bath, most of the users were not convinced by BitMEX’s explanation of “a hardware issue with [its] cloud service provider.”
Additionally, the derivatives behemoth is combating a new lawsuit where its executives are accused of wire fraud; racketeering, unlicensed money transmissions, and money laundering. The Crypto Twitter community was quick to respond to the official statement from BitMEX with some sarcasm and skepticism.
“Isn’t it too late, guys?” Twitter user call_aka_911 said, talking about the BitMEX Corporate news.
Others like user 24Based were more blunt:
“Retail is gone from your exchange, now you have to try to scam corporate’s with overload?”