<p>Cryptocurrency exchange OKEx has been preparing to launch Tether (USDT) margin futures next month.</p> <p>An OKEx spokeswoman told The Block on Monday that the product is currently scheduled to launch in October, but the exact launch schedule is yet to be determined.</p> <p>The spokeswoman did not comment on specifics of the product, saying: “We will keep you posted when we have further updates.”</p> <p>Margin futures contracts are a type of derivative product which allow traders to enter into a leveraged position to buy or sell an asset, in this case, USDT, for delivery at a later date.</p> <p>Several exchanges have been rushing into the crypto derivatives space. Most recently, Binance <a href="https://www.theblockcrypto.com/linked/29785/binance-announces-futures-trading-platform-with-up-to-20x-leverage">launched</a> a futures trading platform, dubbed Binance Futures. The platform initially supports BTC/USDT futures with up to 20x leverage.</p> <p>Last month, Seed CX exchange announced that its subsidiary, Seed SEF, has <a href="https://www.theblockcrypto.com/post/35705/seed-cx-begins-testing-physically-settled-bitcoin-margined-swaps-expects-to-go-live-within-the-next-three-months">started</a> testing of its physically-settled bitcoin margin swaps. Startup trueDigital is also <a href="https://www.theblockcrypto.com/post/38265/crypto-startup-truedigital-rechristened-launching-derivatives-exchange-and-physically-settled-bitcoin-margin-swaps">looking to</a> soon launch a derivatives exchange that trades physically-settled bitcoin margin swaps.</p>