Bitfinex Adds USDT Margin Trading: Tether Will Bearish or Not?

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Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

Recently, Bitfinex a crypto trading platform has announced the opening of a margin trading service for the USDT/USD trading pair. According to Bitfinex the aim of the new service is to improve stablecoin offering in the platform,  

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so as to remain consistent with market evolution and user demand. With immediate effect, traders will be able to carry out leveraged trades for the trading pair, which means that they will be able to borrow money from the platform to exchange USD and USDT.

It has been announced by the exchange today that, 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 recently launched new stablecoin pairs (USDT/USD and EURT/EUR) and adopted what is described as a “neutral” stance following years of sole reliance on the now-controversial USDT.

Tether raised more questions than it answered, with the revelation that the company behind the stablecoin may have had the cash reserves it claimed earlier this year, but the current status and location of the cash reserves are unknown.

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