Bitcoin (BTC) exchange and wallet platform Blockchain.com has announced the launch of margin trading services.
In a blog post published on Tuesday, Blockchain.com explained that bitcoin’s margin trading has been a regular request from users since its exchange service launched in 2019.
According to the announcement, the platform will launch the service for the Bitcoin-US dollar pair (BTC / USD) with up to 5x leverage.
The exchange’s bitcoin margin trading service will be available to users in approximately 150 countries, with major exceptions for Italy, France, Canada, and the United States. Other excluded jurisdictions are Japan, Germany, Austria, the United Kingdom and the Netherlands.
According to Tuesday’s announcement, only users who have verified their identity will have access to this feature.
In terms of cost, the ad states 0.12% daily trading fees for open margin trading positions, which is 0.02% for four hours.
The introduction of margin trading is the latest milestone for Blockchain.com since adding cryptocurrency exchange services to its product catalog.
In August the platform Exceeded $ 1 trillion in cryptocurrency transactions and announced plans to go public (IPO) in 2023.
Blockchain.com’s IPO plans are part of the emerging trend of exchanges and other cryptocurrency companies looking to follow in Coinbase’s footsteps to go public. Actually, Companies like Kraken and Circle are also considering going public.
The exchange and wallet platform also ran several rounds of fundraising earlier this year, reaching a valuation of $ 5.2 billion in March. Blockchain.com would have used the capital to build its institutional business.
As previously reported by Cointelegraph, Blockchain.com partnered with Unstoppable Domains to roll out username-based transactions for 32 million verified customers in June.