Jio Platforms Ltd. is making waves ahead of its highly anticipated initial public offering (IPO) by entering the crypto trading arena. The company’s record-breaking IPO, set to debut soon, is already available for trading on crypto rails, offering investors a 24/7 platform to speculate on its valuation before the official listing on Indian exchanges.
The crypto exchange Bitget took the lead by listing a Jio pre-IPO perpetual futures contract on Wednesday. This marks the first time a product of this kind has been tied to an Indian company. The contract allows for leverage of up to 20 times and settles using Tether’s stablecoin USDT.
This move provides investors with an alternative venue to engage with Jio’s valuation even before its shares become available on traditional exchanges. The perpetual futures contract enables round-the-clock trading, catering to a global audience eager to participate in what is expected to be a landmark IPO.