Product Drop: BitMEX Just Launched on Interchange

BitMEX is now live on Interchange, bringing deep derivatives liquidity into a custody-native trading model, where assets stay protected, but fully deployable.

In this post, Zodia Custody’s Head of Interchange Product, Wing Cheah, breaks down what this means in practice, what’s changed, and why it matters for institutions trading derivatives at scale.

Welcome to Interchange, BitMEX!

BitMEX has long been a cornerstone of crypto derivatives markets, known for pioneering the perpetual swap and delivering sophisticated trading infrastructure for professional participants.

Now, through Interchange, mutual clients can trade directly on BitMEX without needing to pre-fund assets onto the exchange. Instead:

• Assets remain securely held with Zodia Custody
• Balances are mirrored to BitMEX for trading
• Funds are locked for collateral but not moved
• Settlement happens post-trade via Interchange

This means you get full access to derivatives (with up to 250x leverage) and spot markets – including leverage – while maintaining the protections of cold, segregated custody.

What this means for institutions

1. Trade derivatives without pre-funding

No need to move assets onto exchange balance sheets.

Instead, collateral is held in your Zodia Trading Vault and mirrored to BitMEX, reducing exposure while preserving trading capability.

Clients can access a diverse range of products on BitMEX including perpetual swaps, dated futures, spot, and TradFi perpetuals (such as equities, stocks, commodities, and forex).

2. Maintain custody throughout the trade lifecycle

Assets remain in cold, segregated custody, protected under Zodia’s trust structure until the point of settlement.

This materially reduces counterparty risk – particularly relevant in derivatives markets where exposure can scale quickly.

3. Access leverage and advanced trading strategies

Once balances are mirrored, clients can trade on BitMEX as normal (including leveraged positions) subject to standard margin requirements.

This means:

• No functional compromise vs on-exchange trading
• Full access to BitMEX’s derivatives suite
• Ability to deploy more complex strategies securely

4. Operate with familiar workflows

From a user perspective:

• Trading happens on BitMEX
• Custody and settlement happen within the Zodia environment

Behind the scenes, Interchange handles collateral validation, settlement instructions and movement of assets post-trade.

How it works

At a high level, the flow looks like this:

1. Onboard: Ensure you are onboarded to both BitMEX and Zodia Custody Ltd
2. Set up your Interchange Trading Vault and connect it to BitMEX
3. Deposit assets into your vault. These are mirrored to your BitMEX account
4. Execute trades on BitMEX (including leveraged derivatives with up to 250x leverage and spot)
5. Post-trade, Interchange settles positions via the settlement wallet

Mirroring is effectively near-instant. Once assets are detected in custody, they are reflected on BitMEX for trading.

Getting started

Already a Zodia Custody client?
Speak to your relationship manager to enable BitMEX on Interchange or register your interest here.

New to Zodia Custody?
Register your interest to explore how you can access Zodia Interchange.

Register your interest in Interchange

About BitMEX

BitMEX is the OG crypto derivatives exchange, providing professional crypto traders with a platform that caters to their needs through low latency, deep crypto native liquidity and unmatched reliability.

Since its founding, no cryptocurrency has been lost through intrusion or hacking, allowing BitMEX users to trade safely in the knowledge that their funds are secure. So too that they have access to the products and tools they require to be profitable.

BitMEX was also one of the first exchanges to publish their on-chain Proof of Reserves and Proof of Liabilities data. The exchange continues to publish this data twice a week – proving assurance that they safely store and segregate the funds they are entrusted with.

For more information on BitMEX, please visit the BitMEX Blog or www.bitmex.com, and follow Telegram, Twitter, Discord, and its online communities.

 

BitMEX on Interchange is supported by Zodia Custody Limited (UK) and available to eligible institutional/professional clients in select jurisdictions.