This new feature was designed to allow traders to execute large trades in a single transaction without having to take multiple positions to hedge risk. Moreover, the tool also assists in obtaining an average entry and exit price.
Ladder trading allows users to execute larger trade sizes in a single transaction without having to place multiple positions. By introducing Spread Ladder, Bitfinex wants to emphasise the complex nature of its platform, which has become a hub for professional traders and institutional customers in the digital token space according to the official press release.
Bitfinex was founded in 2012 and represents a digital token trading platform offering modern services for traders and global liquidity providers. In addition to a selection of advanced trading features and charting tools, Bitfinex also offers access to peer-to-peer financing, an OTC market and margin trading for a selection of digital tokens.
In January 2023, Bitfinex has partnered fintech platform Tap Global to launch a Mastercard cryptocurrency card. Through this partnership, the companies were able to create a bespoke solution that can be used by financial institutions, fintechs, trading platforms, and banks. By leveraging Tap’s Crypto-as-a-Service, Bitfinex can provide its users with a prepaid Mastercard.
The card allows Bitfinex’s European users to convert their cryptocurrencies into Euro instantly and spend the currency at any location or on any service that accepts Mastercard. Cardholders also receive access to exclusive offers with select merchants.
Mastercard’s loyalty solutions integrate supported cryptocurrencies, which enables its partners to provide rewards and loyalty points in digital assets. This system replaces conventional loyalty points with cryptocurrency rewards that consumers can earn and spend by converting their crypto holdings to pay for purchases.
In April 2022, Bitfinex has partnered with fiat on-ramp services provider OpenPayd to support real-time Single Euro Payments Area (SEPA) payments for EUR-denominated deposits and withdrawals. With the introduction of SEPA payments, Bitfinex customers received access to new ways to deploy EUR onto the platform.
Through this collaboration, customers received the ability to pay-in and pay-out from their accounts near-instantly. The OpenPayd service enables the automation of critical back-end functions such as reconciliation and has allowed businesses to scale operations across Europe.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now