Starting June 3, 2020, the KuMEX crypto futures trading platform will be rebranded as KuCoin Futures, announced the IDG-backed cryptocurrency exchange giant. In addition to the rebranding exercise, the platform will also be launching an Ethereum perpetual contract with 100x leverage.
According to the announcement, KuCoin Futures will be available on its new official website: futures.kucoin.com, and the existing KuMEX communities and social media channels will be renamed to reflect the new brand name. To avoid any confusion, KuCoin will continue supporting the original domain name kumex.com for another 6 months before completely shifting all futures trading operations to KuCoin Futures. There won’t be any changes in the trading experience, and existing users can continue trading without having to go through the registration process all over again.
New Features on KuCoin Futures
Started in July 2019, the KuCoin Futures platform has been supporting Bitcoin perpetual and quarterly contracts as well as USDT-Margined perpetual contracts. It holds the distinction of being the only platform with a Level 3 data push mechanism to create a fair-trading environment. Having experienced peak trading volumes exceeding USD 200 million, KuCoin Futures expects significant growth in the coming days following the inclusion of Ethereum perpetual contracts with a very low maintaining margin rate of up to 0.5%.
KuCoin Futures is also focusing on the development and launch of BCH, EOS, and other futures contracts, along with new features like Cross Collateral, high-frequency trading, dynamic diversions, and big data risk controls. However, these new additions are expected to be made available on a later stage once the entire rebranding process is concluded.
“KuCoin has been promoting the underlying infrastructure for the crypto world and laying out a cryptocurrency ecosystem. As the crypto derivatives market continues to mature, the proportion of its trading volume will be close to that of the traditional finance market, and the next few years will be a golden period for the rapid development of crypto derivatives. As KuCoin Futures continues to develop, we will see the value and global influence that KuCoin has in the derivatives market. The KuCoin Futures platform will also become the most important development engine of KuCoin,” said KuCoin Global CEO Johnny Lyu.
The decision to rebrand KuMEX to KuCoin Futures is part of the company’s strategy to enhance its influence in the crypto derivatives market by revisiting the core values of the platform to provide the best futures trading experience to its users. It will also be launching more promotional activities like an affiliate program, trial fund, new VIP fee structure, and more, which could play a significant role in helping KuCoin Futures achieve its goals.