Blockchain.com, a Bitcoin exchange platform and wallet, has announced margin trading services.
Blockchain.com posted a blog on Tuesday stating that Bitcoin margin trading was a frequent request from users ever since it launched its exchange service in 2019.
The platform will offer margin trading for Bitcoin-United States Dollar (BTC/USD) pairs with up to 5x leverage, according to the announcement.
Users can access the exchange’s Bitcoin margin trading services in approximately 150 countries. However, there are significant exceptions for Canada, France, Canada, and the United States. Japan, Germany and Austria are also exempted.
According to Tuesday’s announcement, only gold-verified users will be able to access the margin trading feature.
The announcement provided 0.12% daily trading fees for open margin trading positions. This is equivalent to 0.02% every four hours.
Blockchain.com’s latest milestone is the launch of margin trading. The company has been expanding its product range to include cryptocurrency exchange services.
The platform announced in August that it had crossed $1 trillion in cryptocurrency transactions and was considering an initial public offering (IPO).
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Blockchain.com’s IPO plans follow the Coinbase trend. Circle and Kraken are both considering public stock exchange listing.
Additionally, the wallet and exchange platform had multiple rounds of fundraising earlier in the year. As of March, it was valued at $5.2-billion. Blockchain.com reported that the capital was used to expand its institutional business.
Cointelegraph reported that Blockchain.com and Unstoppable Domains partnered to offer username-based transactions to 32,000,000 verified customers in June.