Bitget Achieves First CEX Status by Supporting Liquid Staking Derivatives as Futures Collateral

Crypto derivatives and copy trading platform Bitget has become the first centralised exchange to add liquid staking derivatives (LSDs) as a margin option for coin-margined futures. LSDs enable traders to retain staking rewards while using staked assets for trading. Bitget’s futures product supports several currencies as a margin for various trading pairs. The addition of LSDs allows traders to use the liquidity of staked assets without having to unstake them. Bitget supports stETH as collateral currently and plans to expand its support for other assets in future. Using LSDs offers increased flexibility and diversification, allowing for more efficient use of staked assets for trading. It could also maximise liquidity and expand trading strategies for investors. Bitget is a top-five futures trading platform and supports over 170 futures trading pairs.

Gracy Chen, managing director of Bitget, said the platform wanted to offer greater flexibility and more diverse trading strategies to users. By giving users more options, Bitget hopes to drive further growth in the cryptocurrency derivatives market. Bitget was established in 2018 and has become a leading cryptocurrency exchange with futures trading and copy trading services. The platform serves over eight million users in more than 100 countries. Bitget has formed strategic partnerships with Lionel Messi, the Juventus football team and official esports events organiser PGL. Cointelegraph sponsored this publication.

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