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Bitfinex has launched margin trading for the new stablecoin Tether Gold (XAUT)


The Bitfinex Exchange has announced today the launch of magin trading for the new stablecoin linked to gold Tether Gold (XAUT).

As of 12:00 UTC today, several trading pairs are available in exchange with leverage up to 5xIn particular, the one with the US dollar (XAU / USD), the Tether dollar (XAUT / USDT) and the one with bitcoin (XAUT / BTC).

These pairs can be traded with an initial capital of 20% and a maximum leverage of 5x, while the maximum leverage for the bitcoin-dollar (BT / USD) pair has increased from 3.3x to 5x.

This allows operators to borrow funds to increase leverage, offering the possibility of obtaining more profits compared to traditional commerce.

However, for the same reason, the risk is also greater, in particular, due to the strong volatility of digital assets.

The CTO of Bitfinex, Paolo Ardoino, said:

“The launch of margin tarding for Tether Gold will allow more advanced commercial strategies, which will allow a more sophisticated means to cover exposure and manage risk. Raising our leverage from 3.3x to 5x is a remarkable development, and it is also timely given the growing interest in gold and other safe haven assets amid the recent turmoil we have seen in the stock markets. ”

The launch of Tether Gold took place only one week, but trading volumes they are already significant, so it is not surprising that Bitfinex has already introduced the first notable addition to this market.

Each XAUT chip represents a troy ounce of a London Good Delivery gold bar. This allows customers to own gold without the inconvenience of storing physical gold.

The bars are physically stored in a security vault in Switzerland with high security measures.

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