Binance, a leading cryptocurrency exchange company, today announced the acquisition of JEX, a crypto-asset trading platform offering spot and derivatives trading services.

JEX will join the Binance ecosystem as Binance JEX and focus on further building the crypto-asset derivatives market, providing Binance users with professional services including futures contracts, options, and other derivative products.

“JEX has a seasoned developer team with proven experience in crypto-asset product development. JEX has developed solid derivatives product offerings including perpetual contracts and options, which are aligned with Binance’s product roadmaps in the crypto asset derivatives market. We hold an open mind and welcome more partners to join the Binance ecosystem. We look forward to delivering more innovative derivative products in the future as Binance JEX.”
– Yi He, Binance Co-founder

Acquisition

Through this acquisition, Binance will manage the JEX team and the JEX tokens run by its Foundation, introducing more utility to the JEX token.

In a longer-term, JEX tokens will be gradually distributed to all users via marketing activities and community incentives; subsequently, the tokens will be gradually retrieved and burned in various forms including trading commission deductions and so on.