Blockchain.com Exchange Launches Bitcoin Margin Trading

Bitcoin (Bitcoin) Wallet and trading platform Blockchain.com announced the launch of margin trading services.

In a blog post release On Tuesday, Blockchain.com stated that since the launch of its trading service in 2019, Bitcoin margin trading has been a regular requirement for users.

According to the announcement, the platform will launch the Bitcoin-U.S. dollar (BTC/USD) margin trading with a leverage ratio of up to 5 times.

The exchange’s bitcoin margin trading service will be open to users in approximately 150 countries, with the exception of Italy, France, Canada and the United States. Other exempt jurisdictions include Japan, Germany, Austria, the United Kingdom and the Netherlands.

According to the announcement on Tuesday, only gold verified users with complete identity verification can use the margin trading function.

In terms of costs, the announcement stipulates that a daily trading fee of 0.12% is charged for margin trading positions, which is equivalent to 0.02% every four hours.

The launch of margin trading is the latest milestone for Blockchain.com since it expanded its product catalog to include cryptocurrency exchange services.

As early as August, the platform More than $1 trillion in crypto transactions And announced that it is considering an initial public offering (IPO) in 2023.

related: Blockchain.com says goodbye to the Big Apple and hello to Miami

Blockchain.com’s IPO plan is part of the emerging trend of exchanges and other crypto companies following in Coinbase’s footsteps in seeking a public listing. In fact, companies such as Kraken and Circle are also considering listing on the stock exchange.

Wallets and trading platforms also conducted multiple rounds of financing earlier this year. As of March, valued at US$5.2 billionAccording to reports, Blockchain.com used the funds to develop its institutional business.

As Cointelegraph previously reportedIn June, Blockchain.com partnered with Unstoppable Domains to introduce username-based transactions to 32 million verified customers.