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Phemex

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Phemex
FoundedFebruary 2019; 2 years ago (2019-02)
HeadquartersSingapore
Founder(s)Jack Tao
IndustryCryptocurrency
ProductsBitcoin, Bitcoin Cash, Ethereum, Litecoin, exchange of digital assets
Employees70
Websitewww.phemex.com

Phemex is a Cryptocurrency Trading Platform founded in 2019 by 8 former Morgan Stanley executives, led by Jack Tao..[1] Tao felt that the cryptocurrency marketplace, as a whole, lacked transparency, trustworthiness & technological prowess and he co-founded Phemex to address these market shortcomings. [2]

In March 2020, Phemex raised 3.5 Million in Series A Funding, led by NGC Ventures.[3]

In May 2020, Phemex rolled out a Premium membership program that allowed spot trading with zero fees.[4][5] In January 2021, Phemex announced a partnership with “League of Traders”, a social trading platform.[6] Also in January 2021, Phemex announced the launch of both Flexible and Fixed Savings Accounts, designed for clients to park their assets in between crypto trades.[7] Currently, United States residents aren’t eligible to trade on Phemex.[8]

Phemex has partnerships with the GooseX [9], Stacked [10] and NapBot [11] Trading Bots; IntoTheBlock Analytics [12]; TradingView Integrations [13]; Koinal Tools [14] and Banxa Platforms [15] Phemex allows Spot Trading for 13 cryptocurrencies against USDT: BTC, ETH, XRP, LINK, EOS, XTZ, LTC, ADA. TRX, ONT, BCH, NEO, and DOGE. It also allows Contract Trading for the following pairs: BTC/USD, ETH/USD, GOLD/USD, LINK/USD, LTC/USD, XTZ/USD, ADA/USD, BCH/USD, COMP/USD, ALGO/USD, YFI/USD, DOT/USD, UNI/USD, AAVE/USD, and DOGE/USD. The BTC/USD pair is an inverse contract settled in BTC.[16].

References[edit]

  1. "Ex-Morgan Stanley developers launch high-speed cryptocurrency derivatives exchange". Retrieved 2021-03-25.
  2. "The CEO of Phemex on Building the Robinhood of Crypto Derivatives". Retrieved 2021-03-25.
  3. "Crypto derivatives exchange Phemex raises $3.5M in Series A led by NGC Ventures". Retrieved 2021-03-25.
  4. "Exchange Run by Ex-Morgan Stanley Team Drops Trading Fees for Subscription Model". Retrieved 2021-03-25.
  5. "Phemex Exchange Launches Zero Fee Cryptocurrency Spot Trading". Retrieved 2021-03-25.
  6. "Derivatives exchange Phemex announced partnership with top Social trading platform!". Retrieved 2021-03-25.
  7. "Phemex Announces Earn Crypto: Crypto Asset Management Products Offering up to 10% APY". Retrieved 2021-03-25.
  8. "Phemex Exchange Review 2020: Everything you need to know". Retrieved 2021-03-25.
  9. "FAQ". Retrieved 2021-03-25.
  10. "Stacked". Retrieved 2021-03-25.
  11. "NapBots Review: The Best Crypto Trading Bot". Retrieved 2021-03-25.
  12. "IntoTheBlock Analytics Now Available in Phemex". Retrieved 2021-03-25.
  13. "TradingView Integration". Retrieved 2021-03-25.
  14. "Koinal Partnered with The Phemex Exchange". Retrieved 2021-03-25.
  15. "Banxa". Retrieved 2021-03-25.
  16. "CoinMarketCap". Retrieved 2021-03-25.

Category:Bitcoin exchanges Category:Companies based in Singapore Category:Companies established in 2019 Category:Bitcoin companies Category:Digital currency exchanges


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