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Binance who are a massive cryptocurrency exchange acquired Jex which appears to be Chinese and specialises in providing its customers with cryptocurrency derivatives products, including options and futures contracts.

Now the company has been  acquired by Binance, JEX will be known  as Binance JEX. In the latest official statement, Binance said that the acquisition will help it to provide a more “professional service” to its clients.

Binance co-founder Yi He. commented:  

JEX has a seasoned developer team with proven experience in cryptoasset product development,”

“JEX has developed solid derivatives product offerings including perpetual contracts and options, which are aligned with Binance’s product roadmaps [sic]in the cryptoasset derivatives market.

 

“We hold an open mind and welcome more partners to join the Binance ecosystem. We look forward to delivering more innovative derivative products in the future as Binance JEX.”

This is one in a line of recent positive exchange news for the crypto sector as Bakkt are set to roll out their physical futures solution this month and CoinFlex are also working on their own futures product.