Former OKEx exec's crypto derivatives exchange ACDX is launching next month

Quick Take

  • Former OKEx COO Andy Cheung’s crypto derivatives exchange ACDX is launching next month
  • The exchange would offer structured products that can be customized
  • Cheung told The Block that he aims to make ACDX a top ten derivatives exchange next year

A new crypto derivatives exchange, ACDX, is launching next month in beta mode.

Founded by former OKEx COO Andy Cheung, ACDX has been under development since February of this year. The Hong Kong-based exchange aims to fix two “major” issues of crypto derivative exchanges — lack of product innovation and lack of transparency, Cheung told The Block.

“Four years ago, BitMEX introduced bitcoin perpetual swap, and it still remains to be the most popular derivatives product because there are almost no new competitive products innovated since then,” said Cheung. To that end, ACDX plans to offer structured products that can be customized to meet each trader’s needs and risk appetite.

The first such product ACDX would launch is dynamic lever