Paradigm has recently made an announcement in regards to forming a new partnership. Paradigm has announced that it will be offering spread trading to its users as well as the users of FTX.
Paradigm Forms a Partnership with FTX
Paradigm has announced that it has recently formed a partnership with FTX, which is a cryptocurrency exchange. The partnership has been formed so they can offer spread trading services to their users.
It was on Friday when Paradigm made the announcement in regards to their partnership with FTX exchange. According to Paradigm, the users will be able to carry out one-click trades for futures trading.
The users will be able to do it with “no leg risk” while performing trades for fixed maturity, perpetual, and spot futures. The users will be able to perform these trades using multiple cryptocurrencies.
Cryptocurrencies Offered for Futures Trading
The users will be able to perform futures trades with Solana (SOL), Litecoin (LTC), Ether (ETH), Dogecoin (DOGE), ApeCoin (APE), and Avalanche (AVAX), Chainlink (LINK), Ether (ETH), and Bitcoin (BTC).
Paradigm has announced that they will be able to take advantage of the benefits they will offer them. These benefits include clearing of both legs and guaranteed atomic execution as they perform trades.
The reason behind the Partnership
Anand Gomes, the Paradigm CEO talked about the reason behind forming a partnership with FTX.
He stated that their aim is to drive more investors base to the world of cryptocurrencies. They want more people to become part of the cryptocurrency industry.
With more investors joining their services, more adoption would come to the cryptocurrency industry. The people interested to carry out trades and generate cash would be able to benefit from their services.
The users will have the opportunity of trading futures instruments as well as carry out spot purchases for cryptocurrencies as well as using them for leverage purposes.
The users will be able to gain more services and benefits through the FTX exchange. Gomes confirmed that this is not the end to the number of products they are determined to offer their users.
They have plans to add more services and cryptocurrencies that the users will be able to benefit from in the long run.
How does FTX Benefit from Partnering with Paradigm
FTX has also confirmed the partnership announcement with Paradigm from their end. According to FTX, they are glad that they have formed a strategic partnership with Paradigm.
The partnership would allow them to offer cheaper and easier access to perform trades in futures, perpetual, and spot instruments.
With Paradigm on board with FTX, the users will incur 50% fewer fees than they incurred in the past when performing the same trades through FTX.