BitMEX rolls out mobile trading app across 140 countries

Crypto derivatives exchange BitMEX announced on Tuesday that it is officially rolling out its first mobile application.

The launch follows a months-long pilot during which the Seychelles-registered trading venue trialed it among traders in 18 countries. It will be available in more than 140 countries to start.

In an interview, BitMEX's Ben Radcylffe told The Block that the firm implemented the same security measures as its web platform, including biometric unlocks and fingerprint scanning. To best mimic its website's charting capabilities, Radcylffe said BitMEX built the app's charting software in-house. 

"We went with building it ourselves as much as possible to maintain that consistent experience," he said. 

In addition to being able to withdraw, deposit, and trade through the app, users can also set up push notifications for auto-deleverages and liquidations, Radcylffe added. 

Still, it won't include all of the bells and whistles from BitMEX's main site on day one, Radcylffe said. The exchange's well-known chatbox, for instance, will be implemented in a different phase of the app's rollout. For now, he says "all of the useful things" will be there in the first phase, including various contract types and order types, including limit, stop, and take-profit orders. 

As for the broader product roadmap, Radcylffe said the app's launch is ahead of a number of new contract launches and a trading tournament set for later this year.

The app launch follows news that BitMEX would begin asking clients to verify their identities this month. Radcylffe declined to comment on the progress of the new program in detail, noting that the firm has thus far been encouraged by the "general market response." 

"There's a lot of people going through ... it's smooth sailing," he added.