As per the announcement of Bitfinex, the goal of the new service is to better its stablecoin offering in order to maintain consistency with cryptomarket progress and user demand. With instant effect, cryptotraders will manage to perform leveraged deals for the trading pair, meaning that they will have the ability to borrow funds from the trading platform to perform the exchange of USD and USDT currencies.
Subsequent to introduction of this feature, the cryptotyrading platform also intends to allow margin trading for other dollar-pegged currency trading pairs. The announcement mentions plans to enlist more key stablecoin pairs upon reaching sufficient liquidity, which is in compliance with the declared commitment of delivering a coin agnostic trading network.
After the original news, Bitfinex also unveiled via its Twitter account that it has included margin trading for both versions of the Bitcoin Cash split, BAB and BSV, generating a lot of hype in the reply section.
It was previously reported that Bitfinex has introduced new trading pairs for dollar-pegged currencies, namely Tether to USD and Tether EUR to euro, also adopting a stance of so-called neutrality, subsequent to years of relying exclusively on the notorious Tether stablecoin. With these changes implemented and margin trading enabled for Tether, the cryptotrading platform hopes to re-brand itself as a full-feature spot cryptotrading network that enables its customers with variant order kinds they are able to benefit from.