Bitfinex Derivatives Introduces Turkish Lira Perpetual Contract, Enabling Hedging and Directional Trading of Turkish Lira with 100x Leverage

For Journalists Only

PROVIDENCE, Mahe, Seychelles, July 5, 2023 – Bitfinex Derivatives*, a leading digital asset trading platform, is thrilled to announce the listing of a new Turkish Lira perpetual contract, which will enable traders to take positions on the currency, and trade up to 100x leverage on Bitfinex Derivatives.

With inflation at just below 40% in May in Turkey, the Turkish lira (TRY) has seen significant trading volatility against the US dollar (USD), with new lows being hit against the  currency in recent months.

The introduction of the TRYF0:USTF0 perpetual contract on Bitfinex Derivatives reflects the market demand for financial instruments that allow traders to hedge against foreign exchange (FX) volatility.

Turkish Lira perpetual contracts offer traders the flexibility to take both long and short positions, enabling them to profit from price movements regardless of market direction. With the ability to leverage up to 100x, Bitfinex Derivatives empowers traders to amplify their potential returns and manage their risk more effectively.

Bitfinex Derivatives continues to expand its portfolio of perpetual contracts, providing traders with a diverse range of opportunities to engage in the global financial markets. The addition of the TRY perpetual contract, joins existing FX perpetual contracts available on Bitfinex Derivatives including Euro (EUR) perpetuals, British pound (GBP) perpetuals and Yen (JPY) perpetuals.  As one of the most reputable platforms in the industry, Bitfinex Derivatives prioritizes speed, security, and innovation to meet the evolving needs of its users.

For further information regarding the TRYF0:USTF0 perpetual contract, please visit www.bitfinex.com.

* The derivatives platform is provided by iFinex Financial Technologies Limited. References to Bitfinex Derivatives in this press release are references to iFinex Financial Technologies Limited. All deposits, activities, and users are subject at all times to all of the Derivatives Terms of Service in effect on Bitfinex Derivatives. U.S. persons are not permitted to use Bitfinex Derivatives or any of its services.

Important Notes

This press release is intended for journalists. It is not intended to be broadly disseminated.

This press release is not an offer to sell or the solicitation of an offer to purchase any financial products. iFinex Financial Technologies Limited will only allow access to its derivatives platform pursuant to its derivatives terms of service available (as at the date of this press release) at https://www.bitfinex.com/legal/derivative/terms

The summary description of the perpetual contract for TRYF0:USTF0 in this press release is provided for convenience purposes only. The perpetual contract for TRYF0:USTF0  is more particularly described in the Derivative Product Description found at https://www.bitfinex.com/legal/derivative/product. If there are any differences between the description in this press release and the Derivative Product Description, the Derivative Product Description will govern. Please read it carefully to ensure you understand the products available on the derivatives platform. Any summary information regarding the above referenced perpetual contracts in this press release is provided for convenience purposes only and may not be relied upon. Please ensure you conduct your own research regarding these perpetual contracts.

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About Bitfinex Derivatives

Launched in September 2019, Bitfinex Derivatives, powered by iFinex Financial Technologies Limited, offers a comprehensive derivatives platform accessible through Bitfinex. Bitfinex is a leading digital token trading platform providing state-of-the-art services for digital currency traders and global liquidity providers. Learn more at www.bitfinex.com.

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