Altcoin News: Coinbase: The Launch of Margin Trading Will Be “the Next Important Step” for Us

May 30, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Emilie Choi, vice president of business development and data at Coinbase, a US crypto exchange, said in a conversation with The Block that opening margin trading would be “the next important step” for her company, “in particular, on the side of an active trader.”

“There is an obvious demand for this service,” she explained.

During the interview, Choi assured her interlocutor that Coinbase would not open margin trading with the possibility of using leverage up to 100x since it does not want to “turn into a casino for its customers.” The limit on the amount of borrowing in 5x, according to Choi, is more “acceptable”.

“We are ready to participate in such a game,” she added.

At the same time, Choi noted that regulatory uncertainty in the United States continues to be a deterrent that prevents the company from launching futures, options, and other products:

“We are still resolving this issue because the level of regulatory certainty in the United States is not too great.”

Speaking about the possibility of competing with the Binance Exchange, which plans to launch margin trading are ready to be realized at any time, Choi said that the Asian market is large enough for both exchanges, and the spectra of their activities do not overlap.

In mid-May, Coinbase CEO Brian Armstrong announced that the amount of client assets in the Coinbase Custody service exceeded $1 billion.

Author: Marko Vidrih