Bitfinex crypto exchange has announced margin trading for USDT/USD stablecoins, Cointelegraph reports.
According to the platform, the aim of the new service is to improve its stablecoin offering 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.
The exchange further claims that while stablecoin margin trading is limited to USDT/USD for now, Bitfinex has plans to introduce margin trading for other stablecoin pairings, as part of its “commitment to providing a coin agnostic platform, when sufficient liquidity is reached.”
It is worth noting that in late November, Bitfinex became the subject of probe by the United States Department of Justice (DoJ) in connection with alleged cryptocurrency market manipulation. The agency focused its investigation on whether or not USDT was used to artificially inflate Bitcoin (BTC) prices during last year’s meteoric rise.