Press Release: Wednesday, July 15 2020, 06:00 CAT | Source: 100x
HDR Global Trading Limited (“HDR”), the company behind leading cryptocurrency derivatives trading platform, BitMEX, announces the creation of a new holding company structure, 100x.
Building on the phenomenal success of BitMEX, which launched in November 2014, the new 100x holding company structure will pursue a broader vision to reshape the modern digital financial system into one which is inclusive and empowering. 100x will become the new holding structure for HDR and all our other assets, including the BitMEX platform.
This new structure provides our Group with more freedom to explore, incubate and pursue new opportunities and investments, whilst remaining entirely committed to enhancing the BitMEX platform as a leader in the cryptocurrency exchange market. The BitMEX platform, brand and legal structure remain entirely unchanged by the launch of 100x, and the Group will continue to invest in growing the BitMEX platform through continual product innovation and technology advancement.
The team behind BitMEX created the XBTUSD Perpetual Swap, which has become the most traded cryptocurrency product of all time, and has enabled the BitMEX platform to remain one of the most liquid cryptocurrency trading platforms. Today the Group employs over 200 people globally including a team of world-leading developers, engineers, financial products specialists, legal and compliance experts.
Arthur Hayes, Co-Founder and CEO of 100x Group, said, “Financial services play a crucial role in our everyday lives and in the global economy. Yet, in this digital age, financial services remain too slow and too complicated to transform. We are setting out to change the status quo and reshape the modern digital financial system into one which is more inclusive, and empowering.”
The move also recognises the significant evolution of the cryptocurrency ecosystem, from a relatively niche method of payment, to one which has been openly embraced by global users, and increasingly by institutional investors.
The 100x Group is led by HDR’s founders, Arthur Hayes, Ben Delo and Sam Reed. They are also joined by recently appointed Non-Executive Chairman, Dr David Wong, who is responsible for guiding the Group’s long-term growth strategy.
Dr David Wong, Non-Executive Chairman of 100x Group, added, “BitMEX remains central to the ongoing success of our business, and we will continue to invest in the platform to maintain and grow our leadership position. But our ambitions don’t stop there. With the knowledge, experience and resources of 100x, we have great confidence in our ability to make a positive and long-lasting impact on the development of the digital financial ecosystem of the future.”
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This article is a Press Release received from 100x. Global Crypto did not receive any form of compensation for its publication, and as this material is deemed newsworthy for the Southern African blockchain industry, it was thus published accordingly.