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Jio IPO News: Bitget Launches 24/7 Futures Trading Before Listing on Reliance Jio
Coinpedia
52m ago
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The crypto exchange Bitget has launched a JIOUSDT perpetual futures contract, which is linked to the previous valuation of IPO by Reliance Industries' digital services department Jio Platforms. The CEO of Bitget stated that this is the world's first perpetual futures contract related to an Indian company. Traders can go long or short on its implied valuation in the 24 hours before the contract is listed on Jio; the contract is settled in USDT and does not grant the holder ownership of the Jio stocks.
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Jio IPO Message: Bitget Launches 24/7 futures trading before listing on Reliance Jio

The crypto exchange Bitget has launched JIOUSDT, which is a perpetual futures contract linked to the pre-listing valuation of Jio Platforms. Jio Platforms is the digital services department under Xinshi Industry ( Reliance Industries ).

Bitget The Chief Executive Officer announced the launch of this product, stating that it is the world's first IPO perpetual contract related to an Indian company on a global exchange.

This product allows traders to engage in long or short trades on its implied value for 24 hours a day, before Jio officially enters the stock market.

According to the aforementioned announcement, Jio Platforms is preparing for its initial public offering (IPO), with an expected raise of about $3.5 billion and a valuation of around $106 billion. If successful, this will become the largest IPO in Indian history.

This contract settles with USDT, but does not grant the holder any ownership of the Jio stocks.

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