HDR Global Trading announces new holding structure, 100x Group

MAHE, Seychelles, July 14, 2020 /CNW/ -- HDR Global Trading Limited ("HDR"), the company behind leading cryptocurrency derivatives trading platform, BitMEX, announces the creation of a new holding company structure, 100x.

Building on the success of BitMEX, the new 100x holding company structure will pursue a broader vision to reshape the modern digital financial system into one which is inclusive and empowering. 100x will become the holding structure for HDR and all their other assets, including the BitMEX platform.

This new structure provides the Group with more freedom to explore, incubate and pursue new opportunities and investments, whilst remaining committed to enhancing BitMEX's leadership position in the cryptocurrency exchange market. The BitMEX platform, brand and legal structure remain unchanged and the Group will continue to invest in growing the BitMEX platform.

The team behind BitMEX created the XBTUSD Perpetual Swap, which has become the most traded cryptocurrency product of all time. Today the Group employs over 200 people globally including a team of world-leading developers, engineers, financial products specialists and compliance experts.

Arthur Hayes, Co-Founder and CEO of 100x, 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.

Dr David Wong, Non-Executive Chairman of 100x, added, "BitMEX remains central to the ongoing success of our business, and we will continue to invest in the platform to maintain and grow our leadership position. But our ambitions don't stop there. With the knowledge, experience and resources of 100x, we have great confidence in our ability to make a positive and long-lasting impact on the development of the digital financial ecosystem of the future."

About 100x Group

100x Group explores, incubates and pursues opportunities and investments, as part of its mission to reshape the modern digital financial system into one which is inclusive and empowering. It has been created by the founders of HDR Global Trading, the company behind the cryptocurrency derivatives trading platform, BitMEX.

SOURCE 100x