The parent company behind BitMEX has restructured along with the launch of new holding company 100x, named after the 100x leverage the platform has become synonymous with
HDR Global Trading Limited, the company behind cryptocurrency derivatives trading platform BitMEX, has announced the creation of a new holding company structure with the launch of 100x.
The new structure sees 100x become the new holding structure for HDR and all other assets including the BitMEX platform.
There has been an air of uncertainty around BitMEX and HDR’s regulatory status in the UK in recent months following a notice on the platform stating that HDR is not authorised or regulated by the FCA.
The BitMEX platform, brand and legal structure remain entirely unchanged by the launch of 100x, and the Group will continue to invest in growing the BitMEX platform through continual product innovation and technology advancement.
The team behind BitMEX created the XBTUSD Perpetual Swap, which has become the most traded cryptocurrency product of all time, and has enabled the BitMEX platform to remain one of the most liquid cryptocurrency trading platforms.
Arthur Hayes, Co-Founder and CEO of 100x Group, said: “Financial services play a crucial role in our everyday lives and in the global economy. Yet, in this digital age, financial services remain too slow and too complicated to transform. We are setting out to change the status quo and reshape the modern digital financial system into one which is more inclusive, and empowering.”
The 100x Group is led by HDR’s founders, Arthur Hayes, Ben Delo and Sam Reed. They are also joined by recently appointed Non-Executive Chairman, Dr David Wong, as reported by Coin Rivet earlier this month.