BitMEX co-founder and CEO, Arthur Hayes, has posted a blog post thanking exchange users and setting out his vision for the future.
In 2019 BitMEX had some legal problems, and not surprisingly in his post, Hayes refers precisely to the issue of regulation saying that these markets are also dependent on the global regulatory landscape, as well as the creativity of developers.
The CEO explicitly states that the team intends to work with the same regulators to help drive the financial sector forward towards more efficient, fair and transparent markets.
Hayes, after giving a very brief summary of the results achieved in the five years of the exchange, says that “volume and technology isn’t everything”.
In particular, he refers to the fact that BitMEX has new plans for the future, and that they are constantly bringing smart people to their team to further enhance the resources that are already on their platform. At one point he explicitly talks about a possible expansion into “other digital financial products”.
BitMEX, in fact, is not only a cryptocurrency exchange, but it is also a platform for the exchange of derivative financial products based on cryptocurrencies.
Hayes refers to the fact that there is a real evolution of the analogue industries that are moving in the digital space. In this scenario, financial services play an important role, yet they are struggling to evolve.
In particular, he opposes governments restricting licences for those operating in the sector, favouring banks and already licensed financial institutions.
Furthermore, he points out that a process of dematerialisation of the physical networks on which financial institutions have been based in the past is underway, though not always compatible with existing regulations, which limit their expansion.
According to Hayes, a profound and epoch-making change is underway, which in the space of five years could result in very different financial services: much cheaper and with greater control on the part of users.
Finally, he announces a partnership with the non-profit organisation JA (Junior Achievement) Worldwide to help young people develop their entrepreneurial skills, and for financial literacy, to which a donation will be made.
BitMEX is certainly a major player in the crypto industry, and its commitment to innovation could help further evolve this rapidly expanding industry.
The fact that the exchange realises that the innovation process underway goes far beyond mere financial speculation is good for both the industry itself and for human society, which may benefit greatly from crypto innovations.