Phemex is a cryptocurrency derivatives exchange headquartered in Singapore, founded in 2019. Led by eight former Morgan Stanley executives, Phemex aims to be the best leveraged trading platform for digital assets.

The origins of Phemex can be traced back to 2017. According to the official website, Jack Tao and other Phemex founding members, who were Wall Street traders and professional investors, realized that the cryptocurrency industry lacked professional, trustworthy, and customer-centric exchanges.

In the following two years, as more and more users joined the wave of cryptocurrency trading, but the exchanges in the market didnt fundamentally improve, Phemex saw an opportunity for change. In the summer of 2019, several founding members left Wall Street to establish Phemex, committed to building a cryptocurrency trading platform that was efficient, simple, and most importantly, trustworthy. On November 25, 2019, the Phemex trading platform officially launched.