Cryptocurrency trading platform Liquid has announced the launch of a leveraged Bitcoin contract-for-difference (CFD) product.
Dubbed as Liquid Infinity, the product will allow traders to speculate on the price movements of Bitcoin against the Japanese yen and the US dollar.
The press release published on April 2 detailed that the platform will offer traders to leverage their position up to 100x. Moreover, the platform will offer the ability to cross-margin positions to balance margin maintenance requirements.
Commenting on the new product, Mario Gomez Lozada, chief product officer of Liquid, said: “We are well-known for our advanced trading platform features geared towards pro traders, in particular, our core margin product with up to 25x leverage.”
“We saw a rising market demand for Bitcoin CFD products with appetite for higher leverage, which led to the development and launch of Liquid Infinity. Infinity will enable traders to amplify their risk-to-reward ratios with the existing risk management tools we have in place for our margin product, such as stop-loss orders and other advanced charting indicators.”
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Liquid is a subsidiary of Japanese fintech company Quoine. The platform allows its users to access a global network of cryptocurrency exchanges.
The newly launched Bitcoin CFDs will not be available to customers based in Japan, revealed the company.
CFDs on Rising
Though Bitcoin and other crypto prices have gone down since early 2018, many companies around the world have introduced crypto CFDs. Last month, Finance Magnates reported that German FX broker FXFlat has expanded its crypto offerings by introducing an array of crypto CFDs along with its existing Bitcoin CFDs.
Liquid, earlier this year, inked a deal with Simplex to allow users to make deposits on to the platform in fiat currencies using credit and debit cards.