FTX partners with Paradigm for ‘one-click’ futures spread trading


Digital asset investment firm Paradigm has announced the launch of a distribution business in partnership with crypto exchange FTX.

In a blog post on Friday, Paradigm said that under the FTX partnership, users will be able to use Bitcoin (BTC), Ether (ETH) for “one-click” trading with “no leg risk” spread between spot, perpetual and fixed-maturity futures. ), Solana (SOL), Avalanche (AVAX), ApeCoin (APE), Dogecoin (DOGE), Chainlink (LINK) and Litecoin (LTC). FTX offers its businesses “proven atomic performance and clearing both legs.”

According to Paradigm CEO Anand Gomez, the event was aimed at attracting new crypto investors who are interested in trading and trading crypto spot purchases and futures instruments on FTX. Gomez added that the release could lead to new product offerings “with more on the way.”

The investment firm said the use of atomic strikes for both legs of a spread trade is “fundamentally riskier” than on traditional exchanges, allowing market makers to specify “very tight prices and very large volumes”. According to Paradigm, fees will be less than 50% when making two personal transactions.

In the year In 2019, Paradigm partnered with crypto derivatives exchange Deribit to launch a block trading solution. The company has invested more than $1 billion in Citadel Securities, the market-making arm of hedge fund Citadel, a $12-million round for Synthetix and $400 million in funding for crypto-related projects. Exchange FTX.US.

Related: Reddit has partnered with FTX to enable ETH Gas payments for Community Points.

In November, Paradigm launched a $2.5 billion fund to expand its investment into crypto companies and protocols. Paradigm founder Fred Ehrsam said at the time that the company was “just getting started.”