BitMEX to launch bitcoin zero coupon bond in the ‘next few weeks’

Cryptocurrency derivatives exchange BitMEX is preparing to launch bitcoin zero coupon bond in the "next few weeks," its CEO Arthur Hayes told Bloomberg from the sidelines of the Asia Blockchain Summit in Taipei.

"Something that we're really keen on working on is fixed income. So, in the next few weeks, we will be revealing that we have the first bitcoin zero coupon bond with a few counterparties that we have identified," said Hayes.

BitMEX wants to start a market where people can earn a yield on their bitcoin by investing and loaning it to "some of the most stable companies in the space," according to the CEO.

The exchange currently offers cryptocurrency perpetual swap products and commands a 57% market share. It also recently clocked in more than $1 trillion in trading volumes over the last 365 days.

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Yogita is a senior reporter at The Block and covers all things crypto. Before joining The Block, Yogita worked for CoinDesk and The Economic Times. She can be reached at [email protected] Follow her on Twitter @Yogita_Khatri5.