Binance has confirmed it will be launching a margin trading service, after the cryptocurrency exchange accidentally tweeted images suggesting the service was in development.
First noticed by Twitter users earlier on Friday, Binance posted.
The screenshots contained a dedicated tab titled "Margin," with a message saying that margin trading carries a "Higher potential profit," but also "Greater risks." Margin trading refers to using borrowed funds from a broker or exchange to trade an asset.
TechCrunch reported Friday that Binance seems to have already launched the service in beta among "Selected users." A Binance representative also confirmed to the news source that margin trading will be available on Binance.com "Soon."
The margin offering comes as the latest service to be developed by Binance, currently the world's second largest.
The exchange has been adding new features and services as part of its plans for expansion.
It most recently launched a decentralized exchange called Binance DEX, set up a fiat-to-crypto exchange in Singapore.
Binance has also been ramping up its regulatory compliance efforts, having collaborated with several security and analytics startups including Chainalysis.
Thanks to its "Secure Asset Fund for Users," customers have not been impacted by the breach, according to Binance.
Following the hack, the exchange made a number of security upgrades and resumed full services a week later.
Crypto Exchange Binance Confirms Margin Trading Coming 'Soon': Report
gepubliceerd op May 24, 2019
by Coindesk | gepubliceerd op Coinage
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