Bitfinex, a digital asset trading platform, announced last week it has opened margin trading for USDT/USD pair to improve its stablecoin offering in line with market evolution and consumer demand. The platform revealed in a blog post:
“At Bitfinex we work tirelessly to ensure our platform reflects the needs of professional traders, offering market differentiating order types for unique trading strategies. Today, adding margin trading on USDT/USD pair will not only allow for more efficient price discovery, but in an important move for risk management, unlock the ability to hedge the exposure taken on stablecoins. Along with a dedicated lending market, USDT will be available as collateral for margin positions.”
Bitfinex also reported stablecoin margin trading is currently limited to USDT/USD, but as part of our commitment to providing a coin agnostic platform there are plans to introduce margin trading for the other major stable coin pairings when sufficient liquidity is reached.
Founded in 2012, Bitfinex described itself as a digital asset trading platform offering state-of-the-art services for digital currency traders and global liquidity providers. The company considers itself one of the first professional platforms set up to accommodate interest in cryptocurrency trading.