About Thalex
In July 2022, Thalex completed a €7.5 million Series A funding round backed by Bitfinex, Bitstamp, Flow Traders, IMC, QCP and Wintermute, establishing its strategic foundation.
In 2023, the platform went live, focusing on stablecoin-settled crypto options and futures, and processed approximately $1.5 billion in trading volume, primarily from institutional clients, validating demand for unified margin and portfolio-based margin.
In August 2024, it secured a €3 million Series A extension from strategic investors to accelerate expansion. That same year, it integrated with Bitfinex, allowing Bitfinex users to access Thalex derivatives directly, broadening market reach.
Additionally, Thalex plans to obtain a DLT provider license in Gibraltar, underpinning its long-term compliance framework.
Over the past six months (2026-02-28 to 2026-08-31), Thalex has focused on expanding its derivatives ecosystem. Key developments include the promotion of its referral program, which offers up to 10% fee sharing and a Funded Account Summer Bonus (100 ABCs per referral, capped at 20 referrals, ending 2026-08-01). The exchange continues to emphasize its core offerings: portfolio-level margin for efficient hedging, an order book for every perpetual-future and future-future combination with implied matching, and a delta-following bot that replicates option positions using perpetuals. Looking ahead, Thalex's roadmap centers on strengthening algorithmic trading capabilities via its API, expanding multi-collateral support for BTC and ETH margin trading, and deepening liquidity across options, futures, and perpetuals. However, regulatory uncertainty persists—Thalex is registered in Costa Rica with no clear licensing status, and its WikiBit rating remains low at 0/10, which may impact user trust and adoption.
Co-founders:
Hendrik Ghys (Co-founder & CEO). Previously a director at NXMH, a $3B family office, where he led major crypto acquisitions (e.g., Bitstamp, Korbit).
Luc Van Hecke (Co-founder). No detailed public bio available.
Key executive:
Dick Kalsbeek (Head of Retail). Former algorithmic trader at Skynet Trading; holds a bachelor's degree from NHL Hogeschool.